This practice of washing trades happens all the time in WEYL They cross stock to themselves at low and create FAKE volume and a new
long position for example let say they cross 5,000 shares at $2 One account is a naked short who sells and the other account is a NEW LONG the they turn around and sell the 5,000 they just bought Thats a all Fraud trade.
Ashkan Nadershahi claimed his dismissal from the European division of Cantor in 2017 came after he found evidence of a practice known as wash trading, where an investor sells and buys the same financial security and creates misleading activity in the marketplace in the process. He alleged that Cantor carried out the practice for a UK-based high-yield hedge fund for several years, as well as for other asset managers. He also accused the company of misleading and lying to clients. Cantor Fitzgerald is vigorously contesting the case. A spokesperson for the company said: “We refute entirely the allegations made by the claimant in contesting his dismissal for gross misconduct.” In a witness statement, Mr Nadershahi alleged there were 72m wash trades in 2016 alone. “In every wash trade of 2016, the two hedge funds essentially instructed [Cantab] which price they wished him to book at,” he claimed. He alleges that one individual at the company earned €40,000 in commissions for just wash trades alone in 2016.