00:00It's Benzinga, bringing Wall Street to Main Street.
00:02Andrew Left, founder of Citron Research, was convicted Monday on 13 of 17 counts of securities
00:08fraud following a three-week federal trial in Los Angeles, according to Bloomberg.
00:14Prosecutors allege that Left used explosive tweets to illegally move stock prices and
00:18profit from the swings, earning more than $20 million from 2018 to 2023.
00:23In one example, Left opened short positions in Roku, then posted that the stock was uninvestable,
00:30making $700,000 that day.
00:33Left testified in his own defense, arguing he always believed his statements and that
00:38no law barred him from trading after publishing commentary.
00:41He faces more than two decades in prison at an August 31st sentencing hearing and is hinted
00:46at an appeal.
00:47For all things money, visit Benzinga.com.
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