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SEC Charges Man Over Cannabis Firm Pump-and-Dump
A Californian man has been charged by a US regulator for tweeting false information to his followers in a secret bid to inflate the value of his shares in a defunct cannabis company. The Securities and Exchange Commission (SEC) this week announced fraud charges and an asset freeze against Irvine-based Andrew Fassari. He’s alleged to have bought over 41 million shares in Nevada-based Arcis Resources Corporation (ARCS), before tweeting lies to his thousands of followers…
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