Pump and Dump Scam- Sunday Times

21st September 2025
Posted in Facebook scam, Fraud Awareness, Legal Help, Sunday Times

We worked with The Sunday Times to highlight the disturbing details of the Ostin Technology Group (OST) pump-and-dump scandal.

Ostin Technology Group (OST) is a Chinese-based manufacturer of LED display screens, listed on the US stock exchange.

Early in 2025, individuals presenting themselves as experienced trading professionals started targeting the public and urging them to purchase OST shares, promising substantial profits.

Facebook and Instagram adverts combined with WattsApp groups started to spread the news.

The share price initially climbed, reaching approximately $9 per share by mid-June, with further encouragement to hold positions in anticipation of the price soaring to $25.

But late in June, 2025, a coordinated effort appears to have taken place, with certain parties dumping their holdings at peak inflated prices. In contrast, thousands of retail investors — many of them inexperienced and acting in good faith — suffered devastating losses as the share price collapsed almost entirely.

We assisted The Sunday Times in detailing this case as an important cautionary tale for investors everywhere. The resulting coverage included a compelling print article alongside an insightful online feature, which used clear, effective graphics to illustrate precisely how the scheme unfolded.

One of our clients bravely shared their experience during interviews for the piece.

Our senior partner, Martin Richardson, was quoted as follows:

“Martin Richardson from Richardson Hartley Law said the firm had received more than 100 inquiries from UK investors who had purchased shares in OST after engaging with what appeared to be legitimate US-based investment management firms online. He indicated that the total number of UK victims could run into the thousands.

“As soon as the share price plummeted we started to get calls and inquiries from investors who said that they had been scammed,” he said. “This has left financial devastation for thousands of UK victims.””

Read the full story: How investors watched their money grow 1,075% — then lost it all | The Times and The Sunday Times