Devin Nunes says Trump’s social media company continues to monitor naked short selling, an illegal practice that artificially drives price of shares down.
In an interview with X22 Report, Nunes highlights some of the issues Trump’s social media company Truth Social has seen regarding its stock price manipulation.
“We continue to investigate it,” Nunes said.
“We’ve notified the SEC, we’ve notified all the government agencies that would matter.
We’ve worked closely with congress.
Congress continues to I think probe and ask questions.
It’s kind of interesting, they’ve recently, in the recent months or so of the election, we haven’t seen too much weird stuff, so, the way that we knew that there was naked short selling, that’s the issue where shares don’t exist.
We knew that was happening because we turned up on this list where shares were not being delivered so we knew that there had to be the only logical reason for that is that there was naked short selling going on.
So, so far, knock on wood, we’ve been off that list now for a while, so we’re happy about that, but we continue to monitor it because we’re the only company in the country, really, that has virtually no institutional investors.”
Earlier this year, Truth Social, Trump’s social media site publicly scrutinized Ken Griffin’s Citadel Securities for naked short selling the market.
“Rather than support our common sense efforts to promote transparency and compliance, Citadel Securities bizarrely targeted our CEO with an unhinged attack.
Here’s our response:
“Citadel Securities, a corporate behemoth that has been fined and censured for an incredibly wide range of offenses including issues related to naked short selling, and is world famous for screwing over everyday retail investors at the behest of other corporations, is the last company on earth that should lecture anyone on ‘integrity.’”
Naked short selling continues to be a massive problem in the United States.
Will retail investors finally begin to see fairer markets under this new administration?
Share this article to raise awareness and follow Daily Market News for more news, updates, and developments like this.
Also Read: Short Sellers Are Now Under Federal Investigation For Collusion
Other Market News Today
An investment firm has now filed for bankruptcy amid a naked short selling investigation that resulted in the loss of more than $126 million.
Liquidators representing All Blue Investments North Star 1 Ltd. and All Blue Investment Management Ltd., companies based in Dubai and registered in the British Virgin Islands, have taken significant legal action by filing for Chapter 15 bankruptcy recognition in Miami.
This move comes as part of a broader investigation into potentially fraudulent activities that have raised serious concerns about financial misconduct.
The investigation reportedly involves two affiliates located in the Cayman Islands and centers around allegations of “improper naked short trades.”
These trading practices are typically viewed with skepticism, as they can lead to significant market distortions and financial losses.
In this case, the alleged misconduct has resulted in staggering losses amounting to approximately $126 million.
Chapter 15 bankruptcy is designed to address cross-border insolvencies and provide a legal framework for foreign companies to seek protection and manage their debts in U.S. courts.
By filing for this type of bankruptcy recognition, the liquidators aim to safeguard the interests of creditors and stakeholders involved in the All Blue Investments entities while navigating the complex landscape of international financial regulations.
The unfolding situation has drawn attention not only for the size of the alleged financial losses but also for the implications it carries for retail investors and the broader financial community.
As the investigation progresses, it is expected that more details will emerge regarding the nature of the trades and the specific roles played by the various entities involved.
Investors and market watchers are keenly observing how this situation will develop, particularly as it highlights the risks associated with complex financial instruments and the importance of regulatory oversight.
The fallout from such allegations could potentially impact broader market perceptions and lead to calls for stricter regulations to prevent similar occurrences in the future.
For example, retail investors within the ‘meme stock’ community have raised concerns to congress members and the SEC about these illegal short selling practices for years.
Firms such as Citadel and Virtu have been scrutinized for cheating the average investor.
Earlier this year, Truth Social, Trump’s social media site publicly scrutinized Ken Griffin’s Citadel Securities for naked short selling the market.
“Rather than support our common sense efforts to promote transparency and compliance, Citadel Securities bizarrely targeted our CEO with an unhinged attack.
Here’s our response:
“Citadel Securities, a corporate behemoth that has been fined and censured for an incredibly wide range of offenses including issues related to naked short selling, and is world famous for screwing over everyday retail investors at the behest of other corporations, is the last company on earth that should lecture anyone on ‘integrity.’”
Naked short selling continues to be a massive problem in the United States.
Will retail investors finally begin to see fairer markets under this new administration?
Share this article to raise awareness and follow Daily Market News for more news, updates, and developments like this.
Also Read: Wall Street’s Vendetta Against AMC Is Keeping Its Shares Below Cinemark’s
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