Keith Jill, a YouTuber and individual investor, who led the’ant investor revolt’ in response to the speculative short selling of large hedge funds by GameStop, a video game retailer in the United States, Yonhap News
The U.S. authorities launched an investigation into YouTubers who led individual investors’ revolt against short selling of hedge funds.
U.S. financial authorities initiated investigation
The New York Times reported on the 4th (local time) that the Massachusetts state government sent an official letter to his former office worker, Massachusetts Mutual, to request information regarding Keith Jill, 34, who had engaged in a game stop purchase campaign.
The official letter was written in the name of Massachusetts Secretary of State William Galvan and confirmed that Jill opened YouTube with the company’s permission. Jill worked for the company until the end of last month as a financial education manager. Regarding the official letter, the company reportedly replied, “If I had never approved it and knew it in advance, it would have been banned or fired.”
Jill, who has worked at Massachusetts Mutual since April 2019, led the rebellion of ants by opening a YouTube channel called’Roaring Kitty’ last summer. On the 21st of last month, just before the stock price of GameStop surged, he notified his resignation and retired on the 28th. At that time, GameStop’s stock price reached its peak.
In this regard, experts believe that quality is likely to have violated financial industry regulations. The U.S. Financial Industry Regulatory Authority (FINRA) prohibits industry workers from making false or exaggerated claims on the Internet, and requires financial institutions to oversee it.
It is reported that Jill currently has 50,000 GameStop shares and a call option, which is the right to buy shares. At one time, the valuation value stamped on his stock account amounted to $33 million (37 billion won), but it is said that GameStop’s stock price plunged and the profit also gave a lot.
Reporter Jang Joo-young [email protected]