Citron

2024

Bitcoin

James

<ul> 
 <li>Andrew Left of Citron Research pleaded not guilty to securities fraud charges on July 26 in Los Angeles.</li> 
 <li>Left is restricted from financial transactions over $100,000 and had to surrender his passport.</li> 
 <li>The SEC and DOJ claim Left made $16 million through misleading stock recommendations.</li> 
</ul> 
Andrew Left, founder of Citron Research, pleaded not guilty to securities fraud charges during a federal court hearing in Los Angeles on July 26.Judge Rozella Oliver imposed a $4 million unsecured bond and a $1 million collateralized bond on Left. He is required to post the collateralized bond by August 5. 
Court Imposes Travel and Financial Restrictions 
During the hearing, Judge Oliver ordered Left to surrender his passport. The decision came after Assistant U.S. Attorney Brett Sagel argued that Left posed a flight risk. Sagel cited Left’s substantial assets, which include a property abroad, as a reason for the restriction.&nbsp; 
Left’s financial transactions above $100,000 have also been restricted without special permission. His trading activities are currently under scrutiny. 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper"> 
 <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 <a href="https://twitter.com/hashtag/Andrew?src=hash&amp;ref_src=twsrc%5Etfw">#Andrew</a> Left, founder of <a href="https://twitter.com/hashtag/Citron?src=hash&amp;ref_src=twsrc%5Etfw">#Citron</a> Research, has pleaded not guilty to securities fraud charges related to allegedly misleading stock recommendations. A <a href="https://twitter.com/hashtag/federal?src=hash&amp;ref_src=twsrc%5Etfw">#federal</a> judge in <a href="https://twitter.com/hashtag/Los?src=hash&amp;ref_src=twsrc%5Etfw">#Los</a> Angeles imposed a $4 million unsecured bond and restricted his financial transactions. <a href="https://twitter.com/hashtag/Left?src=hash&amp;ref_src=twsrc%5Etfw">#Left</a>'s trial… <a href="https://t.co/XzWmBN9O3b">pic.twitter.com/XzWmBN9O3b</a>— TOBTC (@_TOBTC) <a href="https://twitter.com/_TOBTC/status/1818160450280046815?ref_src=twsrc%5Etfw">July 30, 2024</a>
 </blockquote>
 <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
 </div>
</figure> 
Charges Stem from Alleged Misleading Stock Recommendations 
<a href="https://cryptonewsland.com/sec-sues-andrew-left-of-citron-capital/" target="_blank" rel="noreferrer noopener">The US Securities and Exchange Commission (SEC)</a> and the Department of Justice (DOJ) have charged Left with making $16 million from “bait and switch” stock recommendations. The agencies claim that Left made misleading stock recommendations to retail investors for personal gain. According to the SEC, Left bought back stock after advising his readers to sell and sold stock after advising them to buy. 
James Spertus, Left’s lawyer, described the case against Left as “defective.” Spertus stated that Left had no obligation to disclose his personal trading intentions. He also mentioned that Left would not accept a plea deal from prosecutors, as it would imply wrongdoing. The trial date for Left has been set for September 24. 
Broader Implications for Short-Seller Firms 
The case against Left is part of a nationwide effort to examine relationships between hedge funds and short-seller research firms. Citron Research, Left’s firm, has previously targeted the cryptocurrency industry. Other short-seller firms have also targeted crypto firms recently.&nbsp; 
Culper Research criticized Bitcoin mining firm IREN ... 
The post <a href="https://cryptonewsland.com/citron-research-founder-andrew-left-pleads-not-guilty-to-securities-fraud-charges/">Citron Research Founder Andrew Left Pleads Not Guilty to Securities Fraud Charges</a> appeared first on <a href="https://cryptonewsland.com">Crypto News Land</a>.

Citron Research Founder Andrew Left Pleads Not Guilty to Securities Fraud Charges

Crypto News Land

在 2024年7月30日發表的其他文章

Senator Lummis Proposes Bitcoin Reserve Plan to Address National Debt

Tokyo's BitFlyer Acquires FTX Japan, Aims For Crypto ETFs

Bitcoin to $428,000? James Lavish Says 1% Is Key

Anticipating a Record-Breaking Week in Crypto: Bitcoin Prepares for All-Time High

Ethereum price will lag for ‘months’ as Bitcoin surges: X Hall of Flame, Roman

INTMAX and Plat’Home Collaborate to Commercialize General-purpose Token Protocol for RWA

訂閱免費電子報，每天收取加密貨幣最新動態！