50 Cent Faces Possible Investigation Over "Pump & Dump" Stock Violation

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 7 years ago '10        #1
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philty 126 heat pts126
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50 Cent Faces Possible Investigation Over "Pump & Dump" Stock Violation
 

 
via
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 www.sohh.com

G-Unit head honcho 50 Cent may be placed under investigation by the Security Exchange Commission (SEC) for encouraging over 3 million Twitter followers to invest money in a penny-stock company.

Details on the violations 50 may have allegedly encountered landed online Wednesday (January 12) morning.

Rapper 50 Cent may have momentarily gotten $8.7 million richer after encouraging his Twitter followers to invest in a money-losing penny stock, but now the hip hopper may be in big trouble with the Security Exchange Commission. "There are very strict guidelines as to what a person can do in terms of possibly manipulating the value of a stock," financial expert and 60-Minute Money Workout author Ellie Kay tells FOX411. "I don't think it would be a huge surprise to anyone if 50 Cent were investigated for what he did." On the SEC's web site, a list for common violations that could lead the government agency to conduct an investigation include "manipulating the market prices of securities." (Fox News)

Another report claims the SEC thrives on the possibility of launching a high profile investigation.

Securities laws are complicated, but promoting a stock in which you have an interest is a potential violation of securities laws, said Andrew Stoltmann, a Chicago securities lawyer. Even if you're saying something that you believe to be true, promoting shares without mentioning your personal interest in the company gets scrutinized under "pump and dump" rules. These rules are aimed at stopping insiders from saying: "Get in now" while they're quietly getting out. "The SEC loves nothing more than making a high-profile example out of somebody who is violating the rules. We don't need to look further than Martha Stewart to see that. If the department of Justice can get a clean shot at him, I'm sure they would love to take a swing," said Stoltmann. "If [50 Cent] has a managerial role, interlocking business relationships, or if he's on the board, the company could be dragged into a suit as well." (Money Watch)

For his role in helping promote the stock, H&H Imports, 50 reportedly banked over $8 million last weekend.

Rapper 50 Cent made $8.7 million in paper money on Monday thanks to some tweets. The singer helped pop the shares of the penny stock of H&H Imports, in which he has a stake, by talking it up on Twitter over the weekend, the paper said. H&H owns a marketing firm called TV Goods that was founded by Kevin Harrington of ABC reality show Shark Tank fame, according to the paper. H&H stock gained 29 cents to 39 cents on Monday. That helped boost the value of the singer's stake by $8.7 million, the Post said. 50 Cent, aka Curtis Jackson, received 30 million shares of H&H in a private placement last October. In March, the firm's auditor raised questions about its ability "to continue as a going concern." (Hollywood Reporter)
SOHH CREDIT





note alot of people made money along with 50cent who invested



But This Dude Goes FRee he do the same thingimage



[video - click to view]



Last edited by philty; 01-12-2011 at 11:29 AM..

98 comments for "50 Cent Faces Possible Investigation Over "Pump & Dump" Stock Violation"

 01-12-2011, 10:40 AM         #2
Buttersrugby 
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 philty said:
But This Dude Goes FRee
He goes free? He doesn't have a stake in the companies.

50 clearly pumped his own stock. 50 better watch out. SEC will hurt that wallet or that pride: they don't clown around.

In the recession age, where shady financial practices are scrutinized with the most critical eye since the depression, 50 and his jewish lawyers won't stop nothing if the SEC determines he 'pumped and dumped".

Best of luck to 50 and I hope he didn't do nothing stupid.
 7 years ago '08        #3
bkid 137 heat pts137
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SEC don't play around
 7 years ago '09        #4
2nd2none 
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anyone that listens to 50 cents' stock advice deserves to lose money but fiddy can't be doin that
 7 years ago '10        #5
theking1 3 heat pts
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white people gonna hate but 50 cant lose


Last edited by theking1; 01-12-2011 at 10:57 AM..
 7 years ago '05        #6
Gm0ney85 9 heat pts
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okay... so what happens to that 8.7 million if 50 cent is found to be "in the wrong"...
 7 years ago '05        #7
Flatbush85 55 heat pts55
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I don't see how this was a problem he didn't cash out. He still owns those shares so if they falter tomorrow (which penny stocks normally do) then he will lose that gain just as quick.
 7 years ago '05        #8
Mannish-Yay 2 heat pts
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Im still trippin he made 8.7 million that fast.
 7 years ago '09        #9
ShadyVsEminem 248 heat pts248
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50 Cent>>>>>>>Gordon Gekko
 01-12-2011, 11:14 AM         #10
deLeet 
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people who bought those stocks were probably kids using their parents credit cards... hustle on!
 7 years ago '10        #11
philty 126 heat pts126 OP
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 theking1 said:

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white people gonna hate but 50 cant lose
this.
 7 years ago '04        #12
psylence2k 59 heat pts59
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 karr153 said:
I don't see how this was a problem he didn't cash out. He still owns those shares so if they falter tomorrow (which penny stocks normally do) then he will lose that gain just as quick.
this is what i'm saying, how can it be "pump and dump" if he hasn't dumped?
 7 years ago '09        #13
thegoldenhero 3 heat pts
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yea takin money out those suburban idiots...but come on 50 real G's move silent like lasagna n*gga
 7 years ago '10        #14
rdrake 30 heat pts30
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50 doesn't even run his twitter most of the time...50, Banks and Yayo said this numerous times
 7 years ago '04        #15
etchasketch 55 heat pts55
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50 wont get in trouble. He still has his shares. He bought his for less than 8 cents a share I think and it's trading at 20+ cents and he is still holding. If he the SEC does find him guilty, they will prolly just ban him from trading OTC stocks.
 01-12-2011, 12:32 PM         #16
Keister Stash 
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if this was jim cramer.... oh never mind
 7 years ago '10        #17
hustlershope84 
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He won't go to jail...but probably investigated..he probably didn't break the law but what he did was certainly unethical.
 7 years ago '09        #18
Brainwave 5389 heat pts5389
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 theking1 said:

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white people gonna hate but 50 cant lose
Douche bag of the day award winner!!


Seen this coming
 7 years ago '04        #19
Budeer14 
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cramer says if he owns the stock and how much along the bottom the screen. You have to disclose it. the 1st thing i thought when I heard this story a couple of days ago was that the SEC was going to come knocking. He could get in some serios s**t over this
 7 years ago '04        #20
etchasketch 55 heat pts55
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 Budeer14 said:
cramer says if he owns the stock and how much along the bottom the screen. You have to disclose it. the 1st thing i thought when I heard this story a couple of days ago was that the SEC was going to come knocking. He could get in some serios s**t over this
He did disclose. The company put out a filing.
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