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Companies & Markets

Man charged with sending fake tweets to manipulate stocks

Published Fri, Nov 6, 2015 · 12:35 AM
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[SAN FRANCISCO] A Scottish man was charged by US prosecutors with sending fake posts on Twitter Inc to manipulate stocks that he then traded.

Prosecutors in San Francisco said James Alan Craig used names similar to real market research firms, including the name associated with the founder of Muddy Waters Research, to put out false information about companies. He caused shareholders to lose more than US$1.6 million, the US said in a statement.

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