Feds Crack Down on Massive ‘Pump-and-Dump’ Scheme Tied to Chicago: $214M Seized

Federal authorities target international investment scam that preyed on Chicago investors

CHICAGO — Federal prosecutors in Chicago have charged seven individuals in an alleged multi-million-dollar “pump-and-dump” stock scheme, marking one of the largest financial fraud cases in recent years. The elaborate scam, which spanned several months, reportedly misled investors through social media and messaging platforms, ultimately leading to the seizure of over $214 million in illicit profits.

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