SEC: “We allege that Aly tried to fool the markets from a computer in Pakistan”

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SEC: “We allege that Aly tried to fool the markets from a computer in Pakistan”

Postby kreslik.news » Tue May 24, 2016 6:26 am


A trader based in Pakistan – or controlling a computer from there – has tried to profit after allegedly manipulating the price of a publicly traded stock in the U.S. through the use of false statements in regulatory filings, and used call options to take a position in the underlying stock, but was blocked by a court order from withdrawing profits, according to a complaint by the Securities and Exchange Commission (SEC).
We allege that Aly tried to fool the markets from a computer in Pakistan to make an easy profit, but we made sure he didn’t cash in.

The agency announced Tuesday ... (read more)

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