2026-06-02T00:15:55.992Z / 路透社
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- 摘要
- 相关公司
- 陪审团裁定莱夫特犯证券欺诈罪，四项罪名不成立，量刑听证会定于8月31日举行
- 检方指控莱夫特通过媒体操纵市场，从误导性股票言论中牟利
- 法律专家曾质疑美国司法部的强硬指控，称其援引了第一修正案和投资者权利
路透社6月1日电——美国司法部表示，美国陪审团周一裁定知名投资者安德鲁·莱夫特犯证券欺诈罪。这一裁决对一群颇具争议的卖空者群体造成打击，多年来，这些卖空者通过指控美国及海外上市公司存在欺诈和管理不善，对其进行打压。
美国当局于2024年7月对莱夫特提起诉讼，指控他通过对其在包括英伟达（NVDA.O）和特斯拉（TSLA.O）在内的多家公司股票中的持仓发布误导性声明，操纵股市并欺诈投资者，在此过程中至少获利2000万美元。
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经营Citron Research的莱夫特否认了所有指控，并在法庭上做了无罪答辩。
然而，经过两天的评议，陪审团认定他参与了一项证券欺诈计划，并在另外16项与具体交易相关的罪名中，有12项罪名成立。司法部发言人表示，他另有四项罪名不成立，并补充称，莱夫特的量刑听证会将于8月31日举行。
莱夫特的律师未能立即接听寻求置评的电话，后续发送的求证莱夫特是否会提起上诉的短信也未得到回复。
“从未有人说过我说谎……没有任何虚假陈述，”莱夫特周一在其Citron Research的X账号上发帖称，“我们不认可陪审团的裁决，此事不会就此了结。我们将继续为自由、诚实的言论和机遇而战，这是这个国家的支柱。一切还没有结束。”
在为期15天的审判中，美国检察官将莱夫特描绘成一个通过恐吓散户投资者牟利的机会主义者，而他的辩护团队则称，莱夫特确实相信自己的股票研判。作为一项不同寻常且颇具风险的举措，莱夫特亲自出庭为自己的投资决策作证。
强硬的法律指控？
以夸张鲜明的风格著称的莱夫特，十余年来一直是最知名的激进卖空者之一。这类卖空者称，他们基于上市公司估值过高或存在 outright欺诈的理由做空该公司股票，这引发了那些试图遏制其做空行为的公司的愤怒。
卖空者通过押注股价下跌获利，但莱夫特也会做多。
检方指控，现年55岁的莱夫特利用其在社交媒体和有线电视新闻节目中的影响力，宣扬自己所谓的交易，随后迅速秘密平仓，从短暂的价格波动中牟利。
检方表示，要让他的阴谋得逞，散户投资者必须相信他言行一致，将自己的资金投入到他所鼓吹的交易中。检方传唤了多名证人，包括他们所称的因莱夫特的言论而受损的散户投资者。
莱夫特面临的最高刑罚为：一项证券欺诈计划罪名可判处最高25年联邦监禁，每项证券欺诈罪名可判处最高20年联邦监禁。一些法律专家认为，美国司法部的这起案件手段强硬。长期以来饱受批评的卖空者，常常援引第一修正案权利为自己辩护。投资者也有权改变主意。
不过，检方援引了莱夫特的私人信息以及其他幕后交易的证据，以证明他的真实意图是操纵市场。
他们还指控，莱夫特在公开披露其持仓之前，曾向对冲基金提前通风报信，并以此换取报酬，同时通过伪造发票掩盖这种协调行为。
米歇尔·普莱斯、法比奥拉·阿拉姆布罗 报道；杰奎琳·王、穆拉里库马尔·阿南塔拉曼 编辑
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US jury finds investor Andrew Left guilty of securities fraud
2026-06-02T00:15:55.992Z / Reuters
Andrew Left, the founder of Citron Research, speaks during the Reuters Global Investment 2019 Outlook Summit, in New York, U.S., November 12, 2018. REUTERS/Brendan McDermid/File Photo Purchase Licensing Rights, opens new tab
- Summary
- Companies
- Jury convicts Left of securities fraud, acquits on four counts, sentencing set for August 31
- Prosecutors allege Left manipulated markets via media, profiting from misleading stock calls
- Legal experts had questioned DOJ’s aggressive case, citing First Amendment and investor rights
June 1 (Reuters) – A U.S. jury found prominent investor Andrew Left guilty of securities fraud on Monday, the Justice Department said, in a blow to a divisive cohort of short sellers who have for years goaded public companies in the U.S. and overseas with allegations of fraud and mismanagement.
U.S. authorities charged Left in July 2024, alleging he had manipulated the stock market and defrauded investors with misleading claims about his positions in multiple companies’ shares, including Nvidia
( NVDA.O ), opens new tab
and Tesla
( TSLA.O ), opens new tab
, making at least $20 million in the process.
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Left, who runs Citron Research, denied the allegations and had pleaded not guilty.
After two days of deliberations, however, the jury found him guilty of engaging in a securities fraud scheme and 12 of 16 other counts related to specific trades. It acquitted him of four other counts, a Justice Department spokesperson said, adding Left will be sentenced on August 31.
An attorney for Left did not immediately answer a call seeking comment or a subsequent text message asking if Left would seek to appeal.
“Not once did anyone say I lied…There were no false statements,” Left wrote in a post on his Citron Research X account on Monday. “We disagree with the jury and this does not stop here. We will keep fighting for free, honest speech and opportunity, the backbone of this country. This is not over.”
During the 15-day trial, U.S. prosecutors cast Left as an opportunist who profited by scaring retail investors, while his defense said Left genuinely believed in his stock calls. In an unusual and risky move, Left took the stand to explain his investment decisions.
AGGRESSIVE LEGAL THEORY?
Known for his sensational and colorful style, Left has, for more than a decade, been among the most prominent group of short activists who say they bet against public companies on the basis they are overvalued or engaging in outright fraud, drawing the ire of companies that have fought to curb their bets.
Short sellers seek to profit off bets a stock will fall, although Left also took long positions.
Prosecutors alleged Left, 55, exploited his influence through social media and cable news appearances to tout what he said were his trades, only to quickly and secretly close out his positions to profit from short-lived price movements.
For Left’s scheme to work, retail investors had to believe that he was putting his money where his mouth was, said prosecutors, who called several witnesses, including retail investors they said had been hurt by Left’s calls.
Left faces a statutory maximum sentence of 25 years in federal prison for one count of a securities fraud scheme, and up to 20 years in federal prison for each count of securities fraud. Some legal experts argued the Justice Department’s case was aggressive. Long criticized, short sellers have often defended themselves by leaning on First Amendment rights. Investors are also free to change their minds.
Prosecutors, though, leant on Left’s private messages as well as evidence of his other behind-the-scenes dealings, to show that his true intention was to manipulate.
They also alleged that, in return for compensation, he alerted hedge funds before publicizing his positions, and concealed the coordination using fake invoices.
Reporting by Michelle Price and Fabiola Arámburo; Editing by Jacqueline Wong and Muralikumar Anantharaman
Our Standards: The Thomson Reuters Trust Principles., opens new tab
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