Another financial influencer has been taken away, and in just half a year, he scammed retail investors out of over 40 million yuan!!!

This influencer is named Jin Hao, with 100,000 followers. While the follower count isn't huge, his influence is enormous, treated by many retail investors as a market bellwether.

Whenever he publishes a stock market analysis article, it can reach millions of readers, with large numbers of followers willing to buy stocks following his recommendations.

Capitalizing on followers he saw as naive with plenty of money, Jin Hao would find a small-cap stock with a low price and quietly accumulate a position first. Then, he would package this small-cap stock by tying it to current market trends, writing analysis articles to hype it to the sky. After publishing the article, a large number of followers would blindly rush in to buy, causing the stock's trading volume to surge and its price to spike.

Seeing his followers take the bait and give him a ride up, he would cash out his profits, leaving the followers who trusted him firmly trapped at higher prices.

This tactic never failed Jin Hao—in half a year, he turned several million yuan into 40 million.

However, Jin Hao's good days didn't last long. He was discovered by the China Securities Regulatory Commission last year and fined 83 million yuan, banned from the market for 3 years.

This penalty is hardly painful. If he could be fined 83 million, he certainly made more than 40 million. Without being sent to prison, he could stage a comeback anytime.

After all, this market never lacks naive people with plenty of money.