Social Media Stock Promoter with Penny Stocks Fraud Charged by SEC

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USA: On February 7, 2022, The Securities and Exchange Commission (SEC) charged Michael M. Beck, having the Twitter account @BigMonkey6 for deceiving investors into buying Penny Stocks on his recommendation. As per the SEC, Stock Promoter secretly sells those shares and was in process of selling them after he recommend people to buy stocks.

Penny Stocks

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U.S Security and Exchange Commission tweeted;

The investigation was conducted by Roberto Tercero and overseen by Marc Blau of the Los Angeles Regional Office. The SEC’s litigation will be led by Amy J. Longo. The Securities and Exchange Commission appreciates the assistance of the Financial Industry Regulatory Authority.

Earlier in October 2021, The Securities and Exchange Commission had an asset freeze of a man behind a popular Twitter account that was promoting the trading of penny stocks before selling them at inflated prices.


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DJ Kamal Mustafa

DJ Kamal Mustafa

About Author

DJ Kamal Mustafa is a Music Producer, DJ, Pakistani Filmmaker, and Journalist. Has Made six Animated Films and Released 18 Music Albums for Pakistani and Bollywood Celebrities. The latest animated film on Cyber Awareness has been released by DJ Kamal Mustafa, a project for NR3C.GOV.PK (National Response Center For Cyber Crime) FIA Cyber Crime Wing. I have been featured in The News, Geo News, Dunya News, Gulf News, Global Village Space, and in many newspapers and news blogs. I am writing for Pakistan Today, Times of India, Capital TV, Daily Times, and other news outlets.

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