US Authorities Accuse Andrew Left of Securities Fraud

US authorities have accused prominent short-seller Andrew Left of securities fraud, involving stock trades, social media posts, and research reports. The SEC alleges that Left, through his firm Citron, illegally profited from trading in companies like Tesla, Roku, American Airlines, and Nvidia by manipulating stock prices with his recommendations on short and long positions.

The Justice Department has filed criminal charges against Left, alleging securities fraud and lying to investigators, which could lead to a potential prison sentence exceeding 25 years if convicted. Left is accused of engaging in a $16M stock manipulation scheme, publishing misleading research on companies like Tesla, GameStop, and Peloton, and exploiting his reputation as a vocal short seller to profit from market declines.