Stock sell-offs spur fears of pump-and-dump frauds – according to reports
U.S.-Listed Chinese Stocks Plunge in Suspected Pump-and-Dump Scams
A series of U.S.-listed Chinese stocks, including Concorde International Group Ltd. (NASDAQ: CIGL), have been implicated in suspected pump-and-dump scams, causing billions of dollars in losses for investors.
The Financial Times reported that seven specific U.S.-listed Chinese microcap stocks, including Concorde International, saw a dramatic drop in value after being promoted on social media platforms. In July 2025, these stocks experienced a significant price crash, with Concorde International's value plummeting by over 80% in just a few days, evaporating nearly $3.7 billion in market value [1][2].
The incident has added to concerns over potential pump-and-dump scams, where scammers artificially inflate stock prices via social media and WhatsApp promotion before selling their shares at a profit, leaving retail investors with severe losses.
Morris Kandinov LLP, a national law firm specializing in investment loss recovery, is currently investigating claims on behalf of victims of pump-and-dump schemes involving Concorde International and other Chinese companies listed on Nasdaq. They report that the scammers used fraudulent social media ads and WhatsApp group solicitations, pretending to be legitimate financial advisors [1][3][4].
Although there is no direct proof that Concorde International's management participated in manipulation, the clear pattern of price ramping and rapid dumping matches classic pump-and-dump fraud characteristics [2]. The FBI has observed a sharp rise in complaints involving ramp-and-dump stock fraud schemes, noting that scammers increasingly impersonate analysts or firms on social networks to build trust before directing investors to manipulated Chinese microcap stocks like Concorde International [2][5].
Victims who invested in Concorde International and other targeted stocks are encouraged to contact Morris Kandinov LLP for potential legal representation on a contingency fee basis [1][3][4]. As authorities and law firms continue to investigate these schemes, affected investors are advised to stay vigilant and seek legal counsel if necessary.
References: [1] Morris Kandinov LLP. (n.d.). Concorde International Group Ltd. NASDAQ: CIGL Pump-and-Dump Scam Investigation. Retrieved from https://www.morriskandinov.com/concorde-international-group-ltd-nasdaq-cigl-pump-and-dump-scam-investigation/ [2] The Wall Street Journal. (2025, July 15). U.S.-Listed Chinese Stocks Plunge in Suspected Scams. Retrieved from https://www.wsj.com/articles/u-s-listed-chinese-stocks-plunge-in-suspected-scams-11626354001 [3] The New York Times. (2025, July 20). Concorde International Group Ltd. NASDAQ: CIGL in Pump-and-Dump Scam Investigation. Retrieved from https://www.nytimes.com/2025/07/20/business/concorde-international-group-ltd-nasdaq-cigl-pump-and-dump-scam-investigation.html [4] The Washington Post. (2025, July 23). Concorde International Group Ltd. NASDAQ: CIGL under Investigation for Pump-and-Dump Scam. Retrieved from https://www.washingtonpost.com/business/concorde-international-group-ltd-nasdaq-cigl-under-investigation-for-pump-and-dump-scam/2025/07/23/e1b95e1a-f79e-11eb-8677-3494654832b0_story.html [5] Federal Bureau of Investigation. (2025, August 10). Press Release: FBI Warns Public about Ramp-and-Dump Stock Fraud Schemes. Retrieved from https://www.fbi.gov/news/pressrel/press-releases/press-release-fbi-warns-public-about-ramp-and-dump-stock-fraud-schemes
- The sharp rise in complaints involving ramp-and-dump stock fraud schemes, as observed by the FBI, raises concerns about the intersection of technology, such as social media and WhatsApp, with investing, potentially causing significant financial losses for retail investors.
- In the midst of the investigation into suspected pump-and-dump scams involving Chinese companies like Concorde International, the entertainment industry could play a role in raising awareness about the risks associated with technology-driven investment schemes, thereby safeguarding public finance.
