Aussie pump n dumper facing jail time

Discussion in 'Stocks & Derivatives' started by mmm....shiney!, Jun 8, 2022.

  1. mmm....shiney!

    mmm....shiney! Administrator Staff Member Silver Stacker

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    Anyone ever read any of his stuff on HC?

    https://www.news.com.au/finance/sha...e/news-story/0eabcbb99e35d1f5d3b55a1aa4d60f46
     
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  2. serial

    serial Well-Known Member Silver Stacker

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    Seems like he didn't get in good with the establishment 1st. Isn't this what they all do?
     
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  3. hardyakkagold

    hardyakkagold Well-Known Member Silver Stacker

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    Yep, it seems that he was freelancing on his own, and was not operating through the approved Luciferian secret masonic society organizations like the other businessmen and politicians, and law enforcement personnel do so as to have immunity from prosecution for their evil deeds.

    One law in this country for the majority of us and another [no law] law for the ruling class psychos.

    Nothing has changed in thousands of years from the Babylonian system of corruption and blood sacrifice to now, except the human sacrifices
    are now done underground and out of sight, so that the peasants think that we have progressed from that barbarianism.
     
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  4. bubblebobble2

    bubblebobble2 Well-Known Member Silver Stacker

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    someone has to be the ‘black goat’… he took one for the team.
     
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  5. sammysilver

    sammysilver Well-Known Member Silver Stacker

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    Tell us what you really think!
     
  6. aussiesilver

    aussiesilver Well-Known Member Silver Stacker

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    He will do 6 months in protection in a minimum security facility
     
  7. mmm....shiney!

    mmm....shiney! Administrator Staff Member Silver Stacker

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    Good old SS, take a story about some random dude breaking the law and tinfoil it.
     
  8. serial

    serial Well-Known Member Silver Stacker

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    observations about rules for thee but not for me type behavior are not in the least conspiratorial. many examples are blatent and its obvious that this law is highly subjective and open to interpreptation as to what is "illegal dissemination of information relating to the manipulation" and what is just public relations/advertising/promotion.
    one could argue that elon musk engages in this behavior with his tweets, or the many corporate trading houses.
    but it is always the unconnected small fish that get hung out to dry
     
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  9. mmm....shiney!

    mmm....shiney! Administrator Staff Member Silver Stacker

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    The ATO made it clear last year that they were going to target this sort of behavior in online forums. It is well known amongst share market circles that that behavior has been common place in the past and that the ATO had begun a campaign to try to eradicate it. Individuals posing as multiple users pumping stocks on multiple platforms at the expense of others.

    As far as Musk goes, are you referring to his crypto tweets? If so I agree with you, but as crypto have largely not been declared securities then it probably fall outside of the SEC's jurisdiction.

    If you're referring to his tweets around twitter, I would suggest he hasn't overstepped any boundaries as of yet. I'm not all over that as I don't follow that firm of social media. There have been a number of ranking Fed Reserve officials in the past month who have run afoul of the regulators when it comes to abusing their powers for monetary gain.
     
  10. serial

    serial Well-Known Member Silver Stacker

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    musk was just an out there example.
    its more a commentary on how such a subjective to interpretation law is only ever applied to small operators trying to emulated the behaviors of big established players to ge a leg up. look at the gamestop issue. they used the same system of joint money to punish large organisations engaged in a concerted short and it pissed of the establishment and got (corrupt imho) regulators involved to try and suppress it
     
  11. mmm....shiney!

    mmm....shiney! Administrator Staff Member Silver Stacker

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    Conversely people like billionaire trader Bill Ackman use shorts as an effective tool to highlight fraudulent activities forcing the regulator's hand. He explains that the task of a regulator is an uphill battle due to budget, time and resource constraints and that's why it appears to outsiders that they are slow to act.
     
  12. Ipv6Ready

    Ipv6Ready Well-Known Member Silver Stacker

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    Buy Twitter and Elon will relocate to live close to courts while defending multple class action suits from sellers he fooled. Class action law firms must be frothing at the chance of settlement with Elon.

    If Elon walks away from the Twitter, Elon might as well relocate Tesla HQ to the Delaware where most of the suits will occur.

    Yes, Twitter BOD will sue even though many media outlets says why would Twitter board waste the 5 years (if BOD dont sue Elon, share holders will sue them for breach of fiduciary duty)

    1. Exisiting shareholder will sue for their lossses
    2. New shareholder that bought after the announcement will sue
    3. Ex shareholder he fooled/cheated with late share holdings threshold announcement will sue
    4. All new, existing and ex shareholder will sue for incorrect filing declaring he is not going hostile will sue
    5. All new, existing and ex shareholder that bought, sold or held since his SEC declaration and later via twit backflips to buy or not will sue
    6. Potentially all the people that can prove they were going to buy or didnt buy could sue in Delaware lol (ie had limit orders with brokerage but canceled them AFTER MANY SILLY EVENTS)

    Is Elon guilty or not is irrelevant, America is the land of litigations, many different courts will be involved on rulings and appeals all the way to high court.
     
    Last edited: Jun 12, 2022
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