50 Cent May Face SEC Investigation Over Twitter Stock Tips

50 cent

» by C. Vernon Coleman II January 12, 2011, 15:09pm

Rap mogul 50 Cent may find himself the subject of a Security Exchange Commission (SEC) investigation over stock tips he gave out on Twitter.

As recently reported, 50 made $8.7 million on Monday reportedly thanks to some tweets that he sent out to his 3.8 million followers, encouraging them to by stock in H&H imports, a company in which he has a stake. H&H Imports owns TV Goods—the company that owns the marketing rights to the Queens rapper's Sleek by 50 Cent headphones.

The G-Unit CEO, who owns 30 million shares in H&H, reportedly helped pop the shares of the penny stock of H&H Imports, from .10 cents to .39 cents a share, earning himself  $8.7 million in the process, according to the New York Post.

“There are very strict guidelines as to what a person can do in terms of possibly manipulating the value of a stock,” financial expert and 60-Minute Money Workout author Ellie Kay told FOX411. “I don't think it would be a huge surprise to anyone if 50 Cent were investigated for what he did.”

According to an SEC rep, “we can neither confirm nor deny” an investigation into the Queens rapper's stock tactics is taking place.

50 Cent has remained quiet on the situation, but the tweets in question have been removed and replaced with this:

“HNHI is the right investment for me it may or may not be right for u! Do ur homework.”

and

“I own HNHI stock thoughts on it are my opinion. Talk to financial advisor about it.”

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Comment Comments 9 Tags Tags: , , , , ,
  • http://kevlarpi.podbean.com 559 Rep

    I think a lot of people that reported this story of 50 Cent tweeting about stocks and a company he has a stake in knew of the potential trouble he could've been facing. Someone even thought as far as to seek further info by asking a so called trading and stock expert. Woow! http://itunes.apple.com/us/album/in-my-business-single/id407688891

  • Innovatoor09

    Thats why its important to pick up a book on the rules and regulations of buying and selling stock. I believe he didn't know the rules before sending out that tweet.

    • rico

      If he gets in trouble for this, there's several people that do this pump and sell thing every day that better start running...This might get good..

  • http://hiphop140.com Jermaine

    Too late! He should've disclosed that he owned shares in the company when he made the tweet. He didn't say it at the time.

  • !!!!!

    HES PROLLY NOT WORRIED ABOUT THIS.

  • um yes he did

    50 did let us know he had $ invested in that company, he even showed us the headphone design, the different colors and everything.. It's up to us as consumers if we wanna support him and buy this product.. Ludacris did the same thing promoting his new headphones too via twitter so STFU

  • http://arionataylor.blogspot.com Ariona Taylor

    I didn't know there were a stock in headphones. And I've been buying Sony all this time! Dammit 50! arionataylor.blogspot.com

  • rico

    He should be like the pros...They get a partner to buy the stock so its not linked to them and then you tweet the pump and sell without a trace....Fun stuff...

  • http://agricommoditytipsprovider.wordpress.com agricommoditytipsprovider

    First of all let me tell you, you have got a great blog .I am interested in looking for more of such topics and would like to have further information. Hope to see the next blog soon.

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