I just made a post about this. Citadel handles 40% of stock trades in the US. Their CEO and CIO are Chinese nationals. There is a lot of evidence to indicate that counterfeit shares are in play.
What a great way to make money as a brokerage, just fabricate shares!
It’s only kinda legal if they get it sorted after a few days or weeks depending on who it is. I think the big scare is that it takes a higher entity than a hedge fund to do this fraud, but if this goes on long enough that higher entity would have to come up with the shares to hand over to the purchaser.
I just made a post about this. Citadel handles 40% of stock trades in the US. Their CEO and CIO are Chinese nationals. There is a lot of evidence to indicate that counterfeit shares are in play.
What a great way to make money as a brokerage, just fabricate shares!
It’s only kinda legal if they get it sorted after a few days or weeks depending on who it is. I think the big scare is that it takes a higher entity than a hedge fund to do this fraud, but if this goes on long enough that higher entity would have to come up with the shares to hand over to the purchaser.