That was probably a huge percentage of their revenues--all fictitious--from doing wash trades on an online exchange with no economic purpose. But that fictitious revenue was fooling the investing public, making people think that company had more revenue than it actually did. They were all just ``wash'' trades.
Discussing the impact of fictitious revenue from wash trades on the investing public.
Share
More from Scott Fitzgerald
Two weeks ago, I was proud to introduce the Combating Money Laundering in Cybercrime Act.
It would be better, I think, for members to have real specific information. Because we don’t have it.
I have an amendment at the desk. The Acting CHAIR. The Clerk will designate the amendment. The text of the amendment is as follows: At the end of the bill (before the short title), insert the following: Sec. 902. None of the funds made…
My short answer would be because this is our job, not the Commission's job. This is our job. That is the point of the amendment, to put the power back in the hands of Congress and not have these rogue agencies. Mr. Chair, I yield 2 minutes…
Other voices in this conversation
