RE: What's our CEO been upto?26 May 2022 21:21
The prosecution documents filed in the Southern District of New York state: ‘Bauer was the leader of the stock manipulation schemes in which he participated and controlled the various aspects of the schemes.’
In a ‘pump and dump’ scheme, fraudsters usually spread misleading information to create a buying frenzy that will artificially inflate the price of a stock, before ‘dumping’ their shares at inflated prices.
Bauer, who runs several investment firms, faces five counts of conspiracy to commit securities fraud, one count of conspiracy to commit wire fraud, one of wire fraud and one money laundering charge.