SEC Charges Eight ‘Social Media Influencers’ with Securities Fraud

The Securities and Exchange Commission on Wednesday announced charges against eight “social media influencers” in what the agency said was a coordinated effort to manipulate stocks via multiple Internet platforms. 

The agency said in a press release those charged where involved in a $100 million securities fraud scheme in which they used the social media platforms Twitter and Discord to “manipulate exchange-traded stocks.”

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China Cuts Checks to American Social Media Influencers to Hype Olympics, Downplay Boycotts

China’s government is paying social media influencers in the U.S. to promote the Beijing Olympics and distract from diplomatic boycotts over its human rights violations, according to disclosures filed with the Department of Justice.

The Chinese consulate is paying Vippi, a New Jersey based public relations firm, $300,000 to have influencers on Instagram, TikTok and Twitch promote the Beijing Olympics, according to the disclosures. The influencers will also be required to promote U.S.-China cooperation on issues including energy and climate change.

The 2022 Beijing Winter Olympics have inspired diplomatic boycotts from the U.S., Australia and the U.K. due to China’s purported ethnic cleansing and torture of Uyghurs, a Muslim ethnic minority in Western China.

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