London Daily

Focus on the big picture.
Thursday, Jul 10, 2025

Influencers who promoted stock on social media charged with $100m fraud scheme

Influencers who promoted stock on social media charged with $100m fraud scheme

While their fans were being duped on Twitter and Discord, the accused showcased their "extravagant lifestyles" online, including posing in photos with luxury cars, authorities have alleged.

Eight social media influencers who allegedly used their status to manipulate stock prices have been charged in a $100m (£81m) fraud scheme.

The young men had a combined following of 1.5 million people on Twitter, and used it alongside messaging platform Discord to promote themselves as successful traders and encourage their fans to invest in selected shares.

According to charges brought by the US Securities and Exchange Commission, when the price of those shares rose, they would regularly sell them off without ever disclosing their plans.

It's a process often referred to as "pump and dump".

Authorities said the group's loyal followers were fed "a steady diet of misinformation" since at least January 2020, "which resulted in fraudulent profits of approximately $100m".

While their fans were being duped, the accused showcased their "extravagant lifestyles" online, including posing in photos with luxury cars, authorities alleged.



Seven of the men have been charged with securities fraud, and their Twitter handles were revealed alongside their names and states of residence:

• Perry Matlock (@PJ_Matlock) of Texas

• Edward Constantin (@MrZackMorris) of Texas

• Thomas Cooperman (@ohheytommy) of California

• Gary Deel (@notoriousalerts) of California

• Mitchell Hennessey (@Hugh_Henne) of New Jersey

• Stefan Hrvatin (@LadeBackk) of Florida

• John Rybarczyk (@Ultra_Calls) of Texas

Tweets from the men regularly encouraged members of the "Goblin Gang" to purchase stock, inviting followers to contact them to "get these levels" and the daily "game plan" texted straight to them.

Most of the accounts are still online and were tweeting as recently as three or four days ago.



The eighth man, Daniel Knight (@DipDeity) of Texas, has been charged with aiding and abetting the alleged scheme, including via a podcast he co-hosted and used to promote many of the other men as expert traders.

He is said to have also traded in concert with them and regularly profited from doing so.

Each could face up to 25 years in jail for conspiracy to commit securities fraud and each count of securities fraud.

Constantin also faces a maximum term of 10 years if convicted of engaging in unlawful monetary transactions.


It comes amid a US crackdown on high-profile people who promote financial products, including cryptocurrency.

Last month, an Instagram star was jailed in California for more than 11 years over an international, multi-million dollar scam which targeted an English Premier League club.

Weeks earlier, Kim Kardashian was fined and banned from promoting crypto for three years to settle federal charges over an Instagram post about the EthereumMax asset.

Newsletter

Related Articles

0:00
0:00
Close
Severe Heatwave Claims 2,300 Lives Across Europe
NVIDIA Achieves Historic Milestone as First Company Valued at $4 Trillion
Declining Beer Consumption Signals Cultural Shift in Germany
Linda Yaccarino Steps Down as CEO of X After Two Years
US Imposes New Tariffs on Brazilian Exports Amid Political Tensions
Azerbaijan and Armenia are on the brink of a historic peace deal.
Emails Leaked: How Passenger Luggage Became a Side Income for Airport Workers
Polish MEP: “Dear Leftists - China is laughing at you, Russia is laughing, India is laughing”
BRICS Expands Membership with Indonesia and Ten New Partner Countries
Weinstein Victim’s Lawyer Says MeToo Movement Still Strong
U.S. Enacts Sweeping Tax and Spending Legislation Amid Trade Policy Shifts
Football Mourns as Diogo Jota and Brother André Silva Laid to Rest in Portugal
Labour Expected to Withdraw Support for Special Needs Funding Model
Leaked Audio Reveals Tory Aide Defending DEI Record
Elon Musk Founds a Party Following a Poll on X: "You Wanted It – You Got It!"
London Stock Exchange Faces Historic Low in Initial Public Offerings
A new online platform has emerged in the United Kingdom, specifically targeting Muslim men seeking virgin brides
Trump Celebrates Independence Day with B-2 Flyover and Signs Controversial Legislation
Boris Johnson Urges Conservatives to Ignore Farage
SNP Ordered to Update Single-Sex Space Guidance Within Days
Starmer Set to Reject Calls for Wealth Taxes
Stolen Century-Old Rolls-Royce Recovered After Hotel Theft
Macron Presses Starmer to Recognise Palestinian State
Labour Delayed Palestine Action Ban Over Riot Concerns
Swinney’s Tax Comments ‘Offensive to Scots’, Say Tories
High Street Retailers to Enforce Bans on Serial Shoplifters
Music Banned by Henry VIII to Be Performed After 500 Years
Steve Coogan Says Working Class Is Being ‘Ethnically Cleansed’
Home Office Admits Uncertainty Over Visa Overstayer Numbers
JD Vance Questions Mandelson Over Reform Party’s Rising Popularity
Macron to Receive Windsor Carriage Ride in Royal Gesture
Labour Accused of ‘Hammering’ Scots During First Year in Power
BBC Head of Music Stood Down Amid Bob Vylan Controversy
Corbyn Eyes Hard-Left Challenge to Starmer’s Leadership
London Tube Trains Suspended After Major Fire Erupts Nearby
Richard Kemp: I Felt Safer in Israel Under Attack Than in the UK
Cyclist Says Police Cited Human Rights Act for Riding No-Handed
China’s Central Bank Consults European Peers on Low-Rate Strategies
AI Raises Alarms Over Long-Term Job Security
Saudi Arabia Maintains Ties with Iran Despite Israel Conflict
Musk Battles to Protect Tesla Amid Trump Policy Threats
Air France-KLM Acquires Majority Stake in Scandinavian Airlines
UK Educators Sound Alarm on Declining Child Literacy
Shein Fined €40 Million in France Over Misleading Discounts
Brazil’s Lula Visits Kirchner During Argentina House Arrest
Trump Scores Legislative Win as House Passes Tax Reform Bill
Keir Starmer Faces Criticism After Rocky First Year in Power
DJI Launches Heavy-Duty Coaxial Quadcopter with 80 kg Lift Capacity
U.S. Senate Approves Major Legislation Dubbed the 'Big Beautiful Bill'
Largest Healthcare Fraud Takedown in U.S. History Announced by DOJ
×