Breaking news Citadel Officially Under investigation by the DOJ

Citadel is under investigation

Breaking news Citadel Officially Under investigation by the DOJ

Who is citadel?

Citadel is a multinational hedge fund and financial services company in the United States. Kenneth C. Griffin founded Citadel in 1990. It now conducts two principal businesses: Citadel Capital Management, one of the nation's largest hedge funds, which manages more than US$38 billion in assets for its clients as of August 31, 2021; and Citadel Securities, which handles more than 40% of the U.S. stock market's trades.

Previous violations

The underhanded deals of Citadel Securities were exposed during the GameStop and AMC revolt. Although Citadel has been fined numerous times, it appears that they are simply part of doing business.

It has been documented that Citadel Securities engaged in a number of 'wilful' naked short sales. For infractions of FINRA, REGSHO & SEC rules, they have been fined 59 times.

Citadel paid less than $32 million dollars for about 59 market violations over 15 years.

Investigation

As per Bloomberg news, Citadel has been officially named in the DOJ Short Seller investigation

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