Company offering pandemic stock tips accused of $137M fraud

By MICHAEL KUNZELMAN Associated Press
COLLEGE PARK, Md. (AP) — Federal regulators have filed a lawsuit that accuses operators of an online stock trading services company of defrauding consumers out of more than $137 million. The Federal Trade Commission on Monday sued RagingBull.com LLC and the company’s co-founders, Jeffrey Bishop and Jason Bond, in Maryland. FTC attorneys are seeking federal court orders freezing company assets, halting the alleged fraud scheme and awarding refunds and restitution to customers. The FTC says bank records show the company is bilking consumers, many of whom are retirees or immigrants, out of millions of dollars each month.