Feds ar­rest pop­u­lar Twit­ter day trad­er over al­leged 'pump and dump' scheme

A day trad­er has been ar­rest­ed and charged for op­er­at­ing a “pump and dump” scheme — on Twit­ter.

Steven Gal­lagher, through his Twit­ter alias@AlexDe­large6553 (named af­ter the fic­tion­al char­ac­ter in “A Clock­work Or­ange”), al­leged­ly tout­ed and en­cour­aged his 70,000 fol­low­ers to pur­chase shares in En­zolyt­ics, a Texas-based biotech de­vel­op­ing mon­o­clon­al an­ti­bod­ies and trad­ing over the counter, among oth­er pen­ny stocks.

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