Patty Boyle is a funny guy: “The influencers had ripped jeans, tattoos, McLaren cars, those watches that online scammers always wear, and contrasting facial hair.”

Fraud on the Social Media Market, by Sue S. Guan

By ruling that the victim must have directly surrendered property to the fraudster, any investor who purchased stock in the stock markets on the basis of a fraudster’s misinformation cannot recover. This ignores longstanding tenets of economic theory and contradicts established securities law doctrine. Further, because the structural reality of today’s markets means that nearly every pump and dump using social media will involve investors purchasing stock on the stock market, the ruling would effectively immunize nearly all fraud perpetrated on social media.

SEC Charges Eight Social Media Influencers in $100 Million Stock Manipulation Scheme Promoted on Discord and Twitter, Washington D.C., Dec. 14, 2022

United States of America versus Edward Constantinescu, et al.

Thus, the scheme did not deprive investors of their money or property through any misrepresentation; the misrepresentations deprived them only of accurate information necessary to make discretionary economic decisions.

[Laughable ruling, Texas of course, geez….]

Edward Constantinescu, a.k.a., Eddie Cantaloupe