Short seller Andrew Left convicted of securities fraud in California
Andrew Left, founder of Citron Research, was convicted on June 1, 2026, in a California federal court on 13 counts of securities fraud for manipulating stock prices between 2018 and 2023. He earned at least $21 million by publishing misleading commentary on TV and social media, then trading opposite his positions. Left faces up to 25 years in prison, with sentencing set for August 31, 2026. He plans to appeal, and the case has raised concerns about chilling the short-selling industry.
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Short seller Andrew Left convicted of securities fraud for market manipulation
A federal grand jury in California convicted short seller Andrew Left, founder of Citron Research, on 13 counts including securities fraud and participating in a fraud scheme. Left built a career publishing investment recommendations on companies like Tesla and GameStop, often using sensationalized headlines to move stock prices. Prosecutors said he profited at the expense of retail investors by taking positions before publishing commentary and quickly closing them for profit, boasting it was like 'taking candy from a baby.' Left faces up to 25 years in prison at his Aug. 31 sentencing. He posted on X that he disagrees with the verdict and will continue fighting, claiming the case threatens free speech.
Fortune | FORTUNEShort seller Andrew Left convicted of securities fraud
A federal grand jury in California has convicted short seller Andrew Left of securities fraud. Left, known for his Citron Research platform and frequent appearances on CNBC and Fox Business, was found guilty on one count of participating in a securities fraud scheme and 12 counts of securities fraud. He faces a maximum sentence of 25 years in prison, with sentencing scheduled for August 31, 2026. The Justice Department alleged that Left manipulated stock prices by publishing sensationalized research reports and social media posts targeting stocks popular with retail investors, then profiting from the resulting price movements. Left was originally charged in July 2024 with 19 counts including making false statements. In a social media post, Left expressed disagreement with the verdict and vowed to continue fighting, calling the case an attack on free speech.
Yahoo FinanceAndrew Left of Citron Research convicted of securities fraud
Andrew Left, founder of Citron Research, was found guilty on June 1, 2026, of one count of securities fraud scheme and 12 counts of securities fraud for using his public platform to manipulate stock prices. From March 2018 to October 2023, Left earned at least $21 million by publishing misleading stock commentary on cable news and social media, then trading opposite his stated positions. In one example, he promoted Nvidia stock, then sold his positions within two hours for a $960,000 profit. He also allegedly tipped hedge funds in exchange for payment disguised with falsified invoices. Left faces up to 25 years in prison on the scheme count and up to 20 years per fraud count. Sentencing is set for August 31, 2026. Left testified in his own defense, a rare and risky move, and has announced plans to appeal.
Yahoo FinanceAndrew Left of Citron Research Convicted of Securities Fraud
Andrew Left, founder of Citron Research, was found guilty on June 1, 2026, of one count of securities fraud scheme and 12 counts of securities fraud for using his public platform to manipulate stock prices. From March 2018 to October 2023, Left earned at least $21 million by publishing misleading stock commentary on cable news and social media, then trading opposite his stated positions. In one instance, he promoted Nvidia stock, sold his positions within two hours, and profited $960,000. He also allegedly tipped off hedge funds in exchange for payment disguised with falsified invoices. Left faces up to 25 years in prison on the scheme count and up to 20 years per fraud count. Sentencing is set for August 31, 2026. Left testified in his own defense, a rare and risky move, and has announced plans to appeal the verdict.
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