A series of tweets from various users including AlderLaneEggs, FriendlyBearSA, and HiddenPivots have raised allegations of fraudulent activities and potential legal issues surrounding B. Riley Financial Inc. (ticker: $RILY). Accusations include the leaking of material non-public information (MNPI) by Mike Frank, head of Investor Relations at B. Riley, who is advised to seek securities counsel soon, and involvement in stock promotion schemes by insiders such as Christian McDonald of Kennedy Capital Management, who has been harassing individuals for weeks, and Shane Pavitt, co-founder of B. Riley. Additionally, there are claims of a portfolio manager at Kennedy Capital, a $5 billion RIA, misleading retail investors on Reddit. Legal scrutiny is suggested to intensify with comparisons drawn to historical cases like Enron, with Sullivan & Cromwell appearing in a related sec fraud lawsuit. The situation implicates various entities, including law firms and auditing firms, in what is described as a multi-layered scam involving stock manipulation and fraudulent promotional activities, with a warning that 'The Cover Up is Worse than the Crime'.
🚨 $RILY #FraudsFraud this 👇 https://t.co/RAxdDvbKk6
$RILY @AureliusValue @FriendlyBearSA @DonalGriffin1 @business Riley is regulated by SEC, FINRA and Nasdaq directly. The FDIC and certain state banking departments have some standing since B. Riley sweeps some of its 10k wealth clients customer deposits The audit committee…
Just a Heads up to Sullivan Cromwell and @MarcumLLP .. "The Cover Up is Worse than the Crime" and you will be held responsible.. $RILY @AureliusValue @FriendlyBearSA
Case in point is a portfolio manager at $5B RIA Kennedy Capital who was caught yesterday touting $RILY to retail investors on Reddit by pretending to be an Ape. The stock manipulators astroturf the boards to entice retail into these scams. https://t.co/RFu2s0VCjI
S&C appeared in $RILY sec fraud lawsuit. S&C handled all $RILY dealings with Kahn, did the supposed "internal review", and now is defense counsel 😂. S&C isn't even pretending to be independent. Case study for this is Enron / Vinson & Elkins. Auditors cannot accept the review... https://t.co/4BM75NFtxj
🚨 $RILY #FraudsFraud Unless you're a 'short squeeze narrative' liquidity seeking paid pumper,, this is brilliant work and on point that warrants paying attention to..👇 There has to be ZERO upside for the auditors here #GFLTA https://t.co/7Yd2HzGLnC
This happens to be Excellent and is another example of the multi layers scams $RILY is running at once.. Too bad employees are posting on Redditt and paying others to do so as well https://t.co/qYmziiYyFd
$RILY .. ain't McDonald the fave breakfast in the US? ... .... I guess we could argue about tastes ... BUT what's difficult to argue about is ... the WIFE of this guy on APLD board! @AlderLaneEggs @FriendlyBearSA @WolfpackReports https://t.co/huYYZoAPCU
*see warnings in linked post* including *not investment advice*. -- "Funny things that (could) happen." $RILY $FRG $CONN https://t.co/gSk8tahqXy
I am pretty sure Christian Mcdonald and kennedy capital management are going to have a serious legal problem on their hands- stay tuned $rily @FriendlyBearSA @AureliusValue https://t.co/iK42t86yyg
Christian McDonald (husband of original $APLD board member and PM of Kennedy Capital Management) and Shane Pavitt (co-founder of $RILY) are behind many $RILY posts. Christian has harassed me for weeks. There's nothing organic here, it's a fake stock promo led by insiders.
$RILY ... I do wonder if this account is linked to someone that has the same name as the US favorite Breakfast? 🤣🆘 @AlderLaneEggs @WolfpackReports @FriendlyBearSA @AureliusValue https://t.co/yzztOoQu13 https://t.co/3b30PAy0Vq
$RILY ... this guy spends times looking into short sellers? ... No Secret his wife feels neglected! ... Is he trying to compensate his lack of attentions by having her on $APLD board? @AlderLaneEggs @FriendlyBearSA https://t.co/sovOgd2v7Z
#report SCAMMER ALERT!! #mmtlp #finrafraud @CGasparino spreading misinformation on stocks to his public audience trying to influence market participants https://t.co/kfL4aJofgP
When Marc @AlderLaneEggs says $RILY is a grand fraud folks ought to pay attention... Revisiting $SI when the short squeeze paid pumpers were coming at us.. Marc said they'll get skated into the concrete.. The rest is history.. Can someone give me a stock quote on Silvergate .. https://t.co/G4bBRDJUax
Mike Frank leaking MNPI to paid touts will land you in prison.. Keep it up.. $RILY @FriendlyBearSA @SECGov
What acquisitions? $FRG is a fair value investment. And why does the NT only mention Brian Kahn and nothing else? Mike Frank should seek securities counsel soon. $RILY https://t.co/ekGxhhPfbd
I am thinking that the @SECGov can also look into Investor Relations head Mike Frank who should know better than lie and break the Law.. $RILY @AureliusValue @FriendlyBearSA https://t.co/kDAB0rjCJz