SEC-PR-2412-192 (Dec. 9, 2024) (SEC-PR-2412) SEC Charges Ian Bell with Defrauding Professional Athletes and Others in Fraudulent Day-Trading Scheme Excerpt: Washington D.C., Dec. 9, 2024 — The Securities and Exchange Commission today charged Denver resident Ian G. Bell with securities fraud for lying to investors and misappropriating their funds in connection with a fraudulent day-trading scheme. […]
Category: Day Trading Schemes
A Day-Trading Scheme that attracts SEC enforcement typically involves manipulative practices aimed at artificially inflating the price of securities to profit from short-term trades. For instance, traders may engage in tactics like spoofing—placing large orders they have no intention of executing to create a false sense of demand—or layering, where they place multiple orders at different price levels to mislead other investors. Recently, the SEC charged individuals like Ian Bell for defrauding investors, including professional athletes, by misrepresenting their trading strategies and misappropriating funds. Such schemes not only violate securities laws but also undermine market integrity, prompting regulatory bodies to take action against those involved.