Quartet face criminal charges for ASX penny stock Telegram pump-and-dump scheme – Forex Factory

Four individuals are facing criminal charges for their involvement in a pump-and-dump scheme related to penny stocks on the ASX, as reported by Forex Factory. The scheme involved using the messaging app Telegram to artificially inflate the prices of certain stocks before selling them off for a profit. The quartet now find themselves in legal trouble for their actions, as authorities crack down on fraudulent practices in the financial markets. Pump-and-dump schemes can have serious consequences for investors and the integrity of the market, highlighting the importance of regulations and enforcement in the financial industry.