|Re: SEC sues over stock market spam scam
Group: news.admin.net-abuse.email · Group Profile
Author: Patricia A. Shaffer Date: Aug 25, 2006 20:46
On Fri, 25 Aug 2006 15:44:47 GMT, Chris U
>On 25 Aug 2006 07:18:09 -0700, "Nott Scorewood"
>>> Or more opportunist, while watching the price rise ?
>>Yes, but there's more to this than opportunity. The spammers were
>>selling to suckers once the price ran up. The CEO knew it. Look at
>>what he was actually fined for: selling them unregistered securities.
>>The only people he could sell them to without registering them were
>>those "in the know". So to take advantage of the runup, he made a deal
>>with them to pay him what they were getting. I really think there is a
>>strong element of scum-baggery on the part of the CEO here for which he
>>is not being punished adequately by mere disgorgement of profits.
>I think in such cases it's often mostly down to them hiring
>the best layers etc.
>Economic crime coupled with low ethics causes a lot of
>misery these days :-(
Yahbut if you have a good flock of "layers", at least you won't go
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