Concorde International Group and Gatekeepers Accused of Enabling Pump-and-Dump Scheme

A class-action lawsuit alleges a Nasdaq-listed micro-cap firm and its gatekeepers enabled a pump-and-dump scheme that hijacked a real advisor's identity. The case names Concorde International Group, its officers and directors, auditor Kreit and Chiu CPA, underwriter R.F. Lafferty & Co., and agent Cogency Global Inc. The lawsuit alleges violations of the Securities Exchange Act of 1934 and describes an elaborate social media funnel that drove the price spike of Concorde's stock. The case draws a comparison to a similar scheme that attracted enforcement action from the Department of Justice.