Federal prosecutors have charged activist short seller and analyst Andrew Left with securities fraud, accusing him of illegally profiting at least $16 million by manipulating stock market activity from 2018 to 2023.

Left, a 54-year-old Florida resident known for his appearances on CNBC and other financial news channels, and his hedge fund, Citron Capital, face additional civil fraud charges from the Securities and Exchange Commission.

The SEC’s complaint alleges that Left and Citron engaged in a $20 million scheme to deceive followers with false and misleading stock trading recommendations, involving fraudulent conduct with 23 companies on at least 26 occasions, CNBC has reported.

Written by B.C. Begley