Keith Gill, the face behind the Roaring Kitty persona goes on trail
GameStop stock influencer's million-dollar trial begins
Keith Gill, the man behind the popular Reddit and YouTube personality Roaring Kitty that helped fuel the meme stock frenzy in 2021, goes on trial Monday for market manipulation.
Gill, 36, is accused by the Securities and Exchange Commission of misleading investors about his trades in GameStop shares. He could face a lifetime ban from the securities industry and fines of up to $11 million if convicted.
The SEC alleges that Gill made false and misleading statements about his GameStop holdings and trading strategy on Reddit and YouTube. The agency claims that Gill's actions artificially inflated the price of GameStop shares and led to losses for other investors.
Gill has denied the SEC's allegations and has said that he did nothing wrong. He is expected to testify in his own defense at the trial.
The trial is expected to last several weeks and is being closely watched by investors and market regulators. The outcome of the case could have a significant impact on the regulation of social media and the securities industry.
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