UNITED states accuses the five Canadian race of $ 25 million COVID-19 pump-and-dump stock market scam

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After its launch, sales of the shares has increased, as is its price. From Oct. 18, 2019, to Dec. 13, 2019, the share price has jumped from $0.05 to$ 0.61; then slid down to $0.02 by the end of the month of January 2020.

Investment flurry, the FBI said, came unsolicited sales calls to the elderly, claiming that the company was on the point of land an NFL contract, which would send the value soaring.

That reflects the traditional “pump-and-dump” stock scam with the help of a so-called boiler-room salesmen to convince people to buy ladles of stock to increase its price, and then the insiders sell their shares before the price crashes.

Just when things seemed to be wrapping from the Sandy beach of Steele-venture, along came COVID-19 and a huge demand for personal protective equipment. In March, Sandy Steele sellers started to push a new reason why the company’s value would skyrocket — it was a retooling to make medical masks, according to the SEC.

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