The crypto-skeptic could spend 25 years behind bars should he be convicted on all 18 fraud-related charges.
Andrew Left, the founder of short-selling financial research firm Citron Research, has been accused of securities fraud for allegedly profiting $16 million by making “bait and switch” stock recommendations that mislead retail investors.
Left, a strong crypto-skeptic, used social media and TV appearances to make recommendations on stocks he had short or long positions in, the United States Securities and Exchange Commission alleged in a July 26 statement.
This created a false perception that his public comments on these stocks were in line with his company’s trading activity — though in many cases, he would do the opposite.
