Short seller Andrew Left charged with fraud by prosecutors, SEC

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Short seller Andrew Left charged with ****** by prosecutors, SEC

Andrew Left, founder and CEO of Citron Research

Adam Jeffery | CNBC

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have criminally charged the well-known short seller and analyst Andrew Left with securities ****** related to allegedly using his public platform to illegally profit to the tune of at least $16 million from manipulating stock market activity contrary to positions he presented to the public.

Left and his firm Citron Capital also were separately charged in a civil ****** action by the

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, which accused them of “engaging in a $20 million multi-year scheme to defraud followers by publishing false and misleading statements regarding his supposed stock trading recommendations.”

Left, a 54-year-old resident of Boca ******, Florida, is expected to be arraigned in the next several weeks in Los Angeles federal court, where he’s charged in a 19-count ********* indictment, the U.S. Attorney’s Office in L.A. said in a statement.

He declined to comment on the indictment and SEC complaint.

The indictment notes that Left is a frequent guest commentator on CNBC, and other business cable news channels.

“Mr. Left’s presence on financial television networks and his significant online following provided him with a credible platform to allegedly disguise his intentions and manipulate the investing public for personal gain,” said Akil Davis, the Assistant Director in Charge of the FBI’s Los Angeles Field Office, in a statement.

– Additional reporting by CNBC’s Rohan Goswami

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