Federal prosecutors have criminally charged the well-known short seller and analyst Andrew Left with securities fraud related to allegedly using his public platform to illegally profit to the tune of at least $16 million from manipulating stock market activity contrary to positions he presented to the public from 2018 through 2023. The indictment notes that Left is a frequent guest commentator on CNBC and other business cable news channels. Prosecutors said that Left used Citron's online platform to comment on publicly traded companies and claim that their stock was incorrectly valued by the market. Left, who previously lived in Beverly Hills, California, is charged in the indictment with one count of engaging in a securities fraud scheme, 17 counts of securities fraud, and one count of making false statements to federal investigators. If convicted, he would face a maximum possible sentence of 25 years in prison for the securities fraud scheme alone.

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Persons: Andrew, Citron, L.A ., Akil Davis Organizations: Andrew Left, Securities and Exchange Commission, Boca, Attorney's, SEC, CNBC, Los Angeles Field Office, Prosecutors Locations: Boca Raton , Florida, Los Angeles, U.S, L.A, Beverly Hills , California