The US Department of Justice appears to be the youngest to put pressure on last month’s insane markets.
Citing unidentified sources, The Wall Street Journal reported Thursday that the Justice Department fraud department and the San Francisco District Attorney’s Office had launched investigations into brokers (pronounced Robinhood) and social media platforms (pronounced Reddit). You were at the center of the wildbull markets for stocks like GameStop and AMC weeks ago.
Several agencies have announced that they are investigating market manipulation problems. The Securities and Exchange Commission made a cryptic statement on the matter, as GME stocks were still spasmodic while the SEC closed all trading in SpectraScience stocks this morning. A company that, despite several years of inactivity, had become the target of meme-driven operations.
The WSJ also reports that the Commodity Futures Trading Commission A similar investigation has been launched in the silver market. This skyrocketed when trading in various stocks ceased and internet interest dissolved.
In contrast to the CFTC or SEC, the The Ministry of Justice deals with criminal prosecutions with the possibility of going to jail.
Congress is also involved in the matter Robinhood executives, investment manager Melvin Capital and hedge fund Citadel are preparing to testify at a House hearing scheduled for next Thursday.