US Twitter influencers charged with $114m stock manipulation scheme

‘Pump-and-dump’ operation duped followers, say prosecutors. (AFP/File)
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Updated 15 December 2022
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US Twitter influencers charged with $114m stock manipulation scheme

  • 8 men aged 23-38, face up to 25 years in prison if guilty

LONDON: Eight social media influencers have been charged with conspiracy to commit securities fraud by exploiting their status to manipulate stock prices and net $114 million.

If found guilty, the eight men, aged 23 to 38, each face a maximum of 25 years in prison.

The US Securities and Exchange Commission and the Department of Justice jointly announced the charges in a news release on Wednesday, highlighting that the defendants “promoted themselves as successful traders’ on Twitter and Discord.

The Twitter influencers had a total following of 1.5 million, which they used alongside messaging platform Discord to hype market-traded securities without disclosing plans to sell once the prices surged, reported BBC News citing prosecutors.

Seven were also charged with other financial crimes in the alleged pump-and-dump scheme.

According to the SEC news release, “the eight defendants have, for years, promoted themselves as trustworthy stock-picking gurus,” when, “in reality, they are seasoned stock manipulators.”

The alleged scheme ran between January 2020 and April 2022.

The SEC complaint includes violations of the Securities Act and the Securities Exchange Act.

The defendants are Perry Matlock, Edward Constantin, Thomas Cooperman, Gary Deel, Mitchell Hennessey, Stefan Hrvatin, John Rybarcyzk and Daniel Knight.

The SEC seeks permanent injunctions, disgorgement, prejudgment interest and civil penalties against each defendant, as well as a penny stock bar against Hrvatin.

The influencers were aided by Knight, who with Hennessey, hosted a popular stock-trading podcast promoting the group as expert traders. Matlock and Constantin are cofounders of Atlas Trading, a popular stock trading online community that had a Discord chatroom.

According to the Department of Justice prosecutors, the defendants posted “false, positive” information about each stock in order to “artificially drive up its price.” They then “secretly” sold off their own shares after the price had risen, and “concealed” the move from their followers.

The influencers often posted photos of their extravagant lifestyles and used their platforms to encourage social media followers to share in their financial rewards, according to prosecutors.

“The defendants used their social media credibility to maximize their own profits at the expense of their followers,” prosecutors said.

“Financial crimes like securities fraud may not be violent, but they certainly are not victimless,” said FBI Special Agent in Charge James Smith.

Criminal and civil charges were filed against them in the US District Court for the Southern District of Texas.


To infinity and beyond: Grendizer’s 50 years of inspiring Arabs

Updated 27 December 2025
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To infinity and beyond: Grendizer’s 50 years of inspiring Arabs

  • ⁠ ⁠50 years after its creation, the Grendizer anime series continues to capture Arab imagination
  • ⁠ ⁠⁠Arab News Japan speaks to creator Go Nagai, Middle Eastern fans and retells the story behind the UFO Robot tasked with protecting our planet

LONDON: Few cultural imports have crossed borders as unexpectedly, or as powerfully, as Grendizer, the Japanese giant robot that half a century ago became a childhood hero across the Arab world, nowhere more so than in Saudi Arabia.

Created in Japan in the mid-1970s by manga artist Go Nagai, Grendizer was part of the “mecha” tradition of giant robots. The genre was shaped by Japan’s experience during the Second World War, and explored themes of invasion, resistance and loss through the medium of science fiction.

But while the series enjoyed moderate success in Japan, its true legacy was established thousands of kilometers away in the Middle East.

By the early 1980s, “Grendizer” had spread across the Middle East, inspiring fandoms in Saudi Arabia, Kuwait, Iraq and beyond. (Supplied)

The anime “UFO Robot Grendizer” arrived on television in the region in 1979, dubbed into Arabic and initially broadcast in Lebanon during the Lebanese civil war. The story it told of the heroic Duke Fleed, a displaced prince whose planet had been destroyed by alien invaders, struck a chord with children growing up amid regional conflict and occupation by Israel.

Its themes of defending one’s homeland, standing up to aggression and protecting the innocent were painfully relevant in the region, transforming the series from mere entertainment into a kind of emotional refuge.

Much of the show’s impact came from its successful Arabization. The powerful Arabic dubbing and emotionally charged voice-acting, especially by Lebanese actor Jihad El-Atrash as Duke Fleed, lent the show a moral gravity unmatched by other cartoons of the era.

While the series enjoyed moderate success in Japan, its true legacy was established thousands of kilometers away in the Middle East. (Supplied)

The theme song for the series, performed by Sami Clark, became an anthem that the Lebanese singer continued to perform at concerts and festivals right up until his death in 2022.

By the early 1980s, “Grendizer” had spread across the Middle East, inspiring fandoms in Saudi Arabia, Kuwait, Iraq and beyond. For many, it was not only their first exposure to anime, it also delivered lessons on values such as justice and honor.

Grendizer was so influential in the region that it became the subject of scholarly research, which in addition to recognizing the ways in which the plight of the show’s characters resonated with the audience in the Middle East, also linked the show’s popularity to generational memories of displacement, particularly the Palestinian Nakba.

By the early 1980s, “Grendizer” had spread across the Middle East, inspiring fandoms in Saudi Arabia, Kuwait, Iraq and beyond. (Supplied)

Half a century later, “Grendizer” remains culturally alive and relevant in the region. In Saudi Arabia, which embraced the original version of the show wholeheartedly, Manga Productions is now introducing a new generation of fans to a modernized version of the character, through a video game, The Feast of The Wolves, which is available in Arabic and eight other languages on platforms including PlayStation, Xbox and Nintendo Switch, and a new Arabic-language anime series, “Grendizer U,” which was broadcast last year.

Fifty years after the debut of the show, “Grendizer” is back — although to a generation of fans of the original series, their shelves still full of merchandise and memorabilia, it never really went away.

 

Grendizer at 50
The anime that conquered Arab hearts and minds
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