Less than a month after the criminal case against social media personalities led by Zack Morris has been dismissed without prejudice by the United States District Court, the Department of Justice has filed an appeal which comes after the Court also denied the government’s motion to request a stay on the dismissal order.
The court denied the stay to dismiss the indictment, indicating in its decision that the government’s arguments for the pause largely rehashes the merits of dismissing the case and “is not particularly persuasive.”
Morris (legally Edward Constantinescu) is in a legal battle for fraudulently earning approximately $100 million from this “stock-manipulation scheme.” He defends the case together with his cohorts in the Atlas Trading group: Perry Matlock (aka PJ Matlock), Thomas Cooperman (aka Tommy Coops), Gary Deel (aka Mystic Mac), Mitchell Hennessey (aka Huge Henne), Stefan Hrvatin (aka LadeBackk), and John Rybarcyzk (aka Ultra Calls). Daniel Knight (aka Deity of Dips) is also named a co-defendant as he “aided and abetted” the scheme through his podcast with Hennessey.
The development comes as Morris comes back on X (fka Twitter) after 15 months of inactive status. His first post is a retweet of a parody video of the TV show Power Rangers featuring cutout faces of former president Donald Trump and X owner Elon Musk as the characters.
He also posted a voice message announcing his comeback, telling his followers: “I’m glad to be back. Let’s have fun. Let’s laugh. Let’s make some money.”
His last post, back in December 2022, was right before a federal grand jury indicted Morris and his Atlas Trading cohorts with conspiracy to commit securities fraud in connection with a long-running, social media-based “pump and dump” operation. The indictment said that the defendants profited at least approximately $114 million from their scheme from January 2020 to April 2022.
Information for this briefing was found via the sources mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
