![]() The SEC says Hennessey promoted the benefit of Torchlight’s merger with Meta Materials, talking up the dividend Torchlight investors were to receive and claiming that Meta was not only “potentially partnering with Tesla” but that it had products that had applications for fighting COVID-19 and thus a “10 billion dollar MARKET CAP POTENTIAL.” (Both Palikaras and Brda follow Hennessey on Twitter.) That same day, Matlock purchased 383,421 shares, Deel 210,000 and Knight 8,562. The SEC illustrates its allegations, none of which, obviously, has been tested in court, with five examples of stocks it claims the group manipulated and exhibit D is Torchlight Energy Resources, the company that entered a reverse takeover with Meta Materials in 2021, resulting in Innovacorp’s $100 million payday.Īccording to the SEC, Hennessey identified Torchlight as a “selected stock” on or about 9 February 2021 and on February 10, purchased 196,019 Torchlight shares. If you don’t think all these f*uckers go to jail or at least get sued, you are crazy…playing stupid does not work in court…it’s market manipulation…I mean, you look up the definition of market manipulation…īut, you’re asking, what has this got to do with us here in Nova Scotia? I mention a stock, the less likely I get involved whenever all of Atlas gets a class action f*cking lawsuit…I’m playing this extremely smart, for the very long term. Constantin and Matlock were co-founders of a stock-trading forum on Discord called Atlas Trading.) On 24 February 2021, Knight-who co-hosts the Pennies: Going in Raw (PGIR) podcast with Hennessey-was recorded saying: (Discord is a platform that allows people to connect via voice, video or text messaging. Instead, the defendants sell their shares into the demand that their deceptive promotions generate…įrom at least January 2020 through present…the eight Defendants earned approximately $100 million from this stock manipulation scheme.Īs evidence the defendants knew what they were up to-and that it was illegal-the SEC provides excerpts from “surreptitiously recorded” (they don’t say by whom) calls on their Discord servers. They encourage their followers to purchase the selected stocks, often claiming that they likewise have bought or intend to buy these stocks for themselves and hold them. They identify stocks ripe for manipulations, acquire substantial positions in thee securities, and then recommend those stocks as good investments to their followers on Twitter, in online stock-trading forums they run, and on podcasts. ![]() In reality, they are seasoned stock manipulators. To their legions of followers on social media, the eight defendants have, for years, promoted themselves as trustworthy stock-picking gurus. ![]() (Unrelatedly, but amusingly, Harjinder Singh Kukreja, owner of the London, Ontario shop where Conservative leader Pierre Poilievre buys his shawarma with Bitcoin follows six of them.) Twitter shows me anyone I follow who also follows these accounts, so I know that John Brda, the former Torchlight CEO who hung around to advise Meta Materials on the disposal of its oil and gas assets, follows four of them and Meta founder and CEO George Palikaras follows two of them. ![]() John Rybarcyzk aka Ultra Calls aka The Stock SniperĪ note on those Twitter screen captures: I took them Wednesday morning (December 14). On Tuesday, the US Securities Exchange Commission (SEC) filed a lawsuit in the US District Court for the Southern District of Texas against the following eight defendants:Įdward Constantin aka MrZackMorris aka Edward Constantinescu ![]()
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