Investing
Meme-Stock Influencers Charged in $114 Million Fraud Scheme
- Federal prosecutors accuse eight men of ‘pump and dump’ fraud
- ‘MrZackMorris’ gained followers in pandemic stock trading boom
Source: Getty Images
This article is for subscribers only.
Social media influencer @MrZackMorris and several others active in last year’s meme-stock frenzy were charged by federal prosecutors with engaging in a $114 million “pump and dump” scheme.
Edward Constantinescu, known on Twitter as “@MrZackMorris,” and Perry Matlock, whose Twitter handle is “@PJ_Matlock,” were among the defendants charged in an indictment unsealed Tuesday in federal court in Houston.