Andrew Left of Citron
Andrew Left of Citron

Andrew Left of Citron

News summary

Andrew Left, the activist short-seller behind Citron Research, has been charged by U.S. authorities with multiple counts of securities fraud, involving an alleged scheme that generated at least $16 million in illegal profits. The Securities and Exchange Commission (SEC) has filed a civil complaint accusing him of engaging in a $20 million multi-year scheme to defraud investors by making misleading stock recommendations while secretly reversing his positions for profit. Left reportedly manipulated stock prices of 23 companies, including high-profile targets like GameStop, Nvidia, and Tesla, while bragging about his ability to deceive retail investors. The accusations detail that Left coordinated with hedge funds to disseminate false information and misrepresented his economic incentives to maintain the credibility of his recommendations. If convicted, he could face a maximum sentence of 370 years in prison. The SEC is seeking to recover illicit gains and impose penalties in addition to the criminal charges.

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108 days ago
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