International News
US: Federal jury convicts Andrew Left over $21 million stock fraud
Washington, June 2: A federal jury in Los Angeles has found prominent stock analyst Andrew Left, founder of Citron Research, guilty of orchestrating a years-long scheme that prosecutors said manipulated stock prices and generated at least $21 million in illicit profits by trading against the very recommendations he promoted to investors.
Left, 55, formerly of Beverly Hills and now a resident of Boca Raton, Florida, was convicted of one count of securities fraud scheme and 12 counts of securities fraud after a 15-day trial, according to the US Attorney’s Office for the Central District of California.
Left leveraged his reputation as a market commentator and frequent guest on major business television networks to influence stock prices while secretly positioning himself to profit from short-term market movements, federal prosecutors alleged.
“Left used his TV appearances to disguise his intentions, manipulate the stock market, and pad his pockets,” said First Assistant United States Attorney Bill Essayli. “A fair and transparent securities market is a foundation of our nation’s financial system. We will continue to bring to justice individuals who abuse the public trust placed in financial advisors.”
Patrick Grandy, Assistant Director in Charge of the FBI’s Los Angeles Field Office, said the case highlighted the damage caused by market manipulation.
“Frauds such as the one perpetrated by Left can erode investor confidence which impacts our capital markets,” Grandy said. “While this conviction cannot make up for the significant and emotional harm he inflicted upon his unwitting investors, it does send a message to those who may be looking to profit from similar schemes – think twice because the FBI has a proven track record of rooting out fraudsters who illegally tilt the playing field against honest investors and undermine confidence in our markets.”
According to trial evidence presented in court, Left, operating under the online brand Citron Research, published investment commentary through a website and social media accounts, routinely issued opinions on publicly traded companies, often accompanied by target prices and representations of his own trading positions.
Federal prosecutors alleged that Left knew Citron’s market-moving influence and exploited it. Before publishing commentary, he allegedly built long or short positions in targeted companies, frequently using short-dated options contracts designed to benefit from immediate price swings after his reports were released.
The government said he often closed those positions shortly after publication, sometimes at prices that differed sharply from the longer-term targets he publicly promoted. Behind the scenes, prosecutors argued, he was taking positions opposite to the message he was delivering to investors.
One example presented at trial involved chipmaker Nvidia in November 2018. Prosecutors said Left encouraged a portfolio manager to develop a bullish investment thesis, accumulated positions in the company, and then publicly posted on Citron’s social media account: “Citron buys $NVDA. This is the first time in 2 years stock offers an appealing risk-reward to investors . . . We see $165 before we see $120.” Despite that public projection, prosecutors said he sold his positions less than two hours later, earning more than $960,000 in profit.
The jury acquitted Left on four securities fraud counts related to trades involving four specific companies. He is scheduled to be sentenced on August 31 before US District Judge Virginia A. Phillips. Prosecutors said he faces a statutory maximum sentence of 25 years in federal prison on the securities fraud scheme count and up to 20 years on each securities fraud count.
Citron Research became one of Wall Street’s best-known activist research firms over the past two decades, often publishing reports that challenged valuations of publicly traded companies. Left gained widespread visibility through frequent appearances on financial television networks and developed a substantial following among retail and institutional investors.
International News
Tanker attacked northeast of Saudi Arabia: UKMTO

London, Oct 17: A tanker has reportedly been attacked 78 nautical miles northeast of Al Jubail, Saudi Arabia, the United Kingdom Maritime Trade Operations (UKMTO) said on Saturday.
The master of the tanker reported being attacked by a rocket-propelled grenade from a small boat, resulting in damage to the aft port quarter, according to the UKMTO.
Crew are accounted for and reported safe, and a complete damage assessment and environmental impact are unknown, said the UKMTO.
Earlier this week, Yemen’s Houthi group said that it had launched a large-scale missile and drone attack targeting an airport and oil facilities in Saudi Arabia. It also vowed to continue strikes against Saudi targets in the coming days.
In a statement broadcast by Houthi-run al-Masirah TV, Houthi military spokesperson Yahya Sarea said the group targeted Saudi energy giant Aramco in Dhahran in the Eastern Province, as well as King Khalid International Airport and an Aramco refinery in Riyadh.
According to Sarea, the operation involved “a large number of ballistic and cruise missiles and drones,” which accurately hit their targets, causing damage and fires.
The Houthi spokesperson said the operation was carried out in retaliation for Saudi Arabia-led strikes on the Houthi-held capital of Sanaa and other areas under the group’s control. He said Saudi-led forces had carried out 2,281 air and missile strikes since the latest escalation began, Xinhua news agency reported.
Sarea vowed that the group’s attacks “deep inside Saudi Arabia” would continue in the coming days, targeting airports and oil facilities. He also renewed a warning to international airlines, civilians and employees to stay away from airports and oil facilities in Saudi Arabia that the group had designated as targets.
The Houthi claim came after the Saudi-led coalition in Yemen said it intercepted six Houthi missiles and three drones heading towards Saudi Arabia on Tuesday. An Aramco administrative building in Dhahran was targeted Tuesday evening, sparking a limited fire, while debris from two cruise missiles intercepted over Riyadh injured four people and damaged 15 homes, Saudi authorities said Wednesday.
International News
Iran IRGC says supertanker exploded after hitting mine in Hormuz Strait

The navy of Iran’s Islamic Revolutionary Guard Corps (IRGC) said on Saturday that a “violating” supertanker that sought to cross the Strait of Hormuz through an “unauthorised” route within the preceding hours suffered a “huge” explosion after hitting a naval mine.
The explosion resulted in a “massive” fire on the oil tanker, which had turned off its GPS and radar systems, the navy said in a statement published by the IRGC’s official news outlet, Sepah News.
Carrying more than two million barrels of crude oil, the vessel sought “unauthorised” passage through the strait with the US. military’s support, Sepah News reported, adding that the waterway has been closed, Xinhua News Agency reported.
On Wednesday, the IRGC Navy said a “violating” container ship attempting to pass through the Strait of Hormuz via an “unauthorised and high-risk” route sank earlier in the day after hitting a naval mine south of the waterway.
Speaking to state-run IRIB TV on Tuesday, IRGC Navy Commander Ali Azmaei said his troops are controlling the Persian Gulf and the Strait of Hormuz “round the clock,” while the Gulf of Oman is under the control and supervision of Iran’s navy.
He warned that those violating shipping rules under US “deception or provocation” would face a decisive response from Iran.
Meanwhile, Iran’s President Masoud Pezeshkian on Friday reiterated that his country does not seek to develop nuclear weapons, dismissing anti-Tehran propaganda claiming otherwise as a “lie.”
Pezeshkian made the remarks during a meeting with Georgian Prime Minister Irakli Kobakhidze on the sidelines of the 17th Conference of the Parties (COP17) to the Convention on Biological Diversity in the Armenian capital, Yerevan, according to a statement on his office’s website.
“Iran does not seek to develop nuclear weapons, and we consider the destructive propaganda against our country as a lie,” he said, citing the clear positions of Iran’s late Supreme Leader Ali Khamenei regarding the prohibition of developing nuclear weapons.
International News
Trump says Russia ‘asked to be represented’ at G20, would ‘love to have’ Putin

Washington, Oct 17: President Donald Trump said Russia had asked to be represented at the G20 meetings the United States is hosting this year, and that he would welcome Russian President Vladimir Putin.
Asked by reporters at the White House before departing on Marine One whether Putin was coming to the G20, Trump said, “No, no, they asked to be represented. I don’t know if he’s coming. Certainly would love to have him,” he said.
Trump raised the G20 himself while answering a question about fuel prices. “And one more, because on the G20 meetings, you had Russian representatives go to those meetings,” he said.
The United States holds the G20 presidency in 2026. Secretary of State Marco Rubio will host the G20 Foreign Ministers’ Meeting in Atlanta, Georgia, on October 30 and 31, according to the State Department. Trump will host the Leaders’ Summit on December 14 and 15 at Trump National Doral in Miami, Florida, the State Department has said.
Russia and India are both members of the G20. India hosted the grouping’s summit in New Delhi in September 2023.
Trump also said he would like to reach a nuclear deal with China and Russia but is not counting on it happening this year.
On the war in Ukraine, Trump was asked whether he had forgotten that it was Putin who started the war. “Well, you know, I know the details, okay? And at some point I’ll release the details. But I don’t care anything except for one. I want that war ended,” he said.
“25,000 soldiers on average a month are being killed. Last month was 32,000 soldiers,” Trump said. “I deal with both of them. I think they want that war ended there, and I think it’s going to end. That’s all I care about. I want that war to end.”
Asked about restrictions on Ukraine’s use of Starshield, Trump said, “No, we didn’t do that at all.”
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