SEC v. David Banister

David Banister allegedly conducted a fraudulent scheme to promote long-term investment in a Nasdaq-listed issuer without disclosing that he was actively selling his own shares of the same issuer. Banister also allegedly engaged in manipulative trading in the issuer and made a profit of more than a million dollars from the fraud, according to the SEC. Banister and The Market Analysts Group, LLC, while acting as unregistered investment advisers, allegedly made misleading statements to paying subscribers and to the public through their posts on internet message board Stocktwits.

Summary generated from official Securities and Exchange Commission press release