| Re: SEC sues over stock market spam scam |
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Group: news.admin.net-abuse.email · Group Profile
Author: Nott ScorewoodNott Scorewood Date: Aug 23, 2006 03:54
Dave Platt wrote:
>>"In settlement against these charges, Haffner and WebSky have agreed to
>>surrender $35,000 made from the transaction and to abide by an injunction
>>against further violations of the registration provisions of federal
>>securities law."
>>
>>Take that you nathty thpammerth!
>>
>>This is deterrent?
>
> That's the penalty against the corporation and its CEO, for selling
> some stock to the spammers without registering it. The article says
> that the corporation itself wasn't involved in the pumping&dumping.
>
> It'll be interesting to see what the SEC goes for against the
> spammers / P&D'ers themselves. They might, perhaps, sue to force the
> spammers to disgorge all of their ill-booten gotty.
The thing about the article that makes me go "hmmm" is that:
a: it says that the CEO specifically told them they were not to engage
in the spam campaign; then later
b: he sold them more stock.
The comspiracy theorist in me says he saw the run up, figured out they
did it (they were probably dumb enough to include him on their spam
list and spammed him a few hundred times), and then agreed with them
not to blow them in if they bought some stock from him at their
artificially inflated price.
Then he blew them in anyway. Because he, also, is an idiot and didn't
figure they'd turn on him.
Anyways, enough rampant, baseless speculation (is there ever enough?) -
back to seeing how the "facts" play out.
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