A retail investor turned whistleblower, known as Anna (@anna_trades) on X, has thrust the shadowy world of dark pool trading into the spotlight with explosive allegations of financial corruption.
In a federal Racketeer Influenced and Corrupt Organizations Act (RICO) lawsuit, Anna claims that FINRA-operated dark pool venues—namely OTCBB, OOTC, and XADF—are being used to launder counterfeit shares, conceal failed trades, and offload synthetic exposure into pensions, 401(k)s, IRAs, Thrift Savings Plans (TSPs), and ETFs.
These practices, she argues, are endangering the retirement savings of millions of Americans and destroying U.S. companies and jobs.
Investors are calling on names such as Joe Rogan, Alex Jones, and Tucker Carlson to look into this information.
Here’s the latest on Franknez.com.
A Federal Case Forced Into Arbitration
Anna, a prominent member of the MMTLP (Meta Materials Preferred Shares) retail investor community, originally filed her RICO lawsuit in federal court to address what she describes as systemic market abuses.
However, the case was forced into private arbitration—a move she contends obscures the broader implications of her findings.
“I filed a federal RICO case that was forced into private arbitration, despite the systemic issues it uncovered,” Anna wrote in an X post on May 30, 2025.
The RICO statute, often used to combat organized crime, has been applied in financial misconduct cases, including those involving retaliation against whistleblowers, as noted in a Wikipedia entry updated on May 21, 2025.
In her X post, Anna declared, “I am a whistleblower exposing massive financial corruption—market manipulation, regulatory fraud, and the theft of America’s pensions.”
She alleges that FINRA’s dark pool operations are facilitating the destruction of companies and retirement savings, citing stocks like MMAT, DJT, FNGR, GME, AMC, and others as targets of synthetic shares and unregulated dark pool activities.
“$MMAT $DJT $FNGR $GTII $QNTM $GME $AMC $BBBY $TSLA $SUNE—and thousands more are being attacked and destroyed through synthetic shares and unregulated dark pool venues,” she wrote.
NOTE: Frank Nez’s reports on MMTLP have been acknowledged by the Congressional Research Service.
The MMTLP Saga and FINRA’s Missteps
The allegations come amid heightened scrutiny of the MMTLP saga, which has galvanized retail investors since a trading halt in December 2022.
FINRA’s own FAQ on the matter revealed a “systems coding issue” that incorrectly classified MMTLP on its Threshold Securities List from October 2021 to January 2022 and again from October to December 2022.
The misclassification, which FINRA attributed to a system migration error, has deepened investor distrust, with many echoing Anna’s claim that regulators are turning a blind eye to systemic fraud.
Anna’s report specifically highlights FINRA’s Alternative Display Facility (XADF) as a key mechanism for laundering counterfeit shares.
This isn’t the first time XADF has been flagged; a June 19, 2024, Reddit post on r/FFIE by user u/heavyseasoning pointed to massive buy and sell orders in XADF for the stock FFIE, noting that such trades are indicative of dark pool activity.
Anna’s findings suggest these practices have far-reaching consequences, with synthetic exposure being offloaded into retirement accounts—affecting over 65,000 families tied to the MMTLP community alone.
Threat to Retirement Savings Sparks Alarm
The potential threat to retirement savings is particularly concerning.
A 2022 study in the Retirement Income Journal (March 17, 2022) highlighted how legislative changes to retirement plans often benefit affluent workers and financial firms, leaving average investors vulnerable to market manipulations like those Anna describes.
Her allegations add a new layer of urgency to these concerns, pointing to a systemic issue that could undermine the financial security of millions.
These allegations have put Anna in a precarious position, as she claims she now has a target on her back.
Whistleblower Faces Threats, Seeks Public Support
Anna’s whistleblowing efforts have not come without personal risk.
In her X post, she stated, “I AM NOT SUICIDAL,” citing escalating threats and psychological manipulation that led her to file an official police report.
“Due to escalating threats and psychological manipulation, I have filed an official police report and will continue updating it to document all concerns,” she wrote.
“Making this public and visible helps protect me—and it would mean a great deal just knowing people are aware and standing beside me.”
The MMTLP community has rallied around Anna, with a letter signed by 74 members of Congress months ago demanding a forensic audit and hearings on the issue.
However, a reply by user @jayobx7 on May 31, 2025, noted that Congress has since handed the matter to the SEC, with a lawsuit filed to address the alleged perpetrators.
Despite this, Anna and supporters remain skeptical of regulatory action.
“Regulators look the other way,” she stated, a sentiment echoed by many retail investors.
Also Read: SEC Now Responds to Retail Investors on Illegal Manipulation
Why This Matters
Anna’s allegations also spotlight broader issues with dark pool trading and synthetic shorting.
A 2016 study on ResearchGate, titled “Synthetic Shorting with ETFs,” explored how ETFs can be used to create synthetic exposure—a practice Anna claims is being weaponized against retail investors.
Meanwhile, the SEC’s tip submission portal has seen increased use by investors reporting market abuses, reflecting growing public frustration with Wall Street practices.
As Anna continues her fight, her case raises critical questions about the integrity of U.S. markets and the challenges faced by whistleblowers in the financial sector.
With retirement savings, jobs, and the stability of American companies allegedly at stake, her allegations demand a closer examination from regulators, lawmakers, and the public.
But I’m curious to know what you think — leave your thoughts below.
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Great article Frank thanks for publishing what mainstream media won’t. It’s time FINRA gets investigated!
Vice President Vance knows about this. It is time to step up and help
Yes, no more lip service. Time for these politicians to take action.
Its time for the Trump administration to stop this!
I agree. They cannot ignore this pressing issue any longer.