Digital Brand Media and Marketing Group Inc (DBMM)

[StayHumble]

w0wSECcharges🎅🏿&👽in NakedShortSellingMyth

6, 12, 2023 —
SEC charged investment adviser Sabby Management LLC & managing partner,Hal D. Mintz,w/ fraud in connection w/ a long running scheme involving misrepresentations & violations of rules for short selling & order making, as well as other violative trading, that generated $2M + in illegal profits.

From at least March 2017-May 2019 Sabby|Mintz repeatedly circumvented trading rules to conduct unlawful trades in the stock of 10 PUBLIC COMPANIES! Sabby |Mintz engaged in illegal “naked short selling” by intentionally|improperly placing short sales when they knew or were reckless in not knowing that they had not borrowed or located the shares, & then failed to make timely delivery of the shares. The purpose was to earn profits they could not have gained by legal trading.


The naked short selling artificially deflated the price of securities, allowing them to obtain more shares cheaper price.


https://www.sec.gov/news/press-release/2023-107