US prosecutors explore racketeering charges in short-seller probe
CNN
US prosecutors are exploring whether they can use a federal law originally enacted to take down the mafia in a sprawling probe of hedge funds and research firms that bet against stocks, according to two sources familiar with the situation.
The Justice Department last year issued subpoenas to dozens of firms, including such well-known names as Citron Research and Muddy Waters Research LLC, as part of the sweeping probe focused on potentially manipulative trading around negative reports on listed companies published by some of their investors, Reuters and other media outlets have reported.
Although prosecutors haven't made any decisions yet, potential charges under the Racketeer Influenced and Corrupt Organizations Act (RICO) were an option on the table, the sources said.
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