Scams

Scams

by Mike Masnick


Filed Under:
pump and dump, stock spam



Pump-And-Dump Stock Spammers Made $20 Million

from the nice-work-if-you-can-get-it dept

Well, we already knew that pump-and-dump stock spam scams worked for the spammers, but we weren't aware of just how well they worked. Apparently a group of pump-and-dump spammers made out to the tune of $20 million before they were caught. Of course, unlike in some cases, these scammers involved the executives of the companies they were hyping up -- though, it's unclear to what extent those executives understood what the scammers were planning to do.

4 Comments | Leave a Comment..

 
 

Reader Comments

(Flattened / Threaded)

    Sep 11th, 2007 @ 5:11pm
  • scamers

    by Gary

    the wild thing is, people actualy read the spam and acted on it. Are people realy that dumb. I guess so. Oh ya it is that greed thing lots of us have.

    (reply to this comment) (link to this comment)

  • Sep 11th, 2007 @ 6:14pm
  • And if they stole your domain......

    by Harve

    Am I entitled to some of their ill gotten gains? Some a**hole pump-and-dumper sent millions of emails using one of my domains and the bounce messages I got each day nearly croaked my server.

    I hope they burn in hell, or go to prison and become girlfriends to some gang banger.

    (reply to this comment) (link to this comment)

  • Sep 11th, 2007 @ 6:36pm
  • dot dot dot

    by Paul

    "Well, we already knew that pump-and-dump stock spam scams worked for the spammers, but we weren't aware of just how well they worked."

    Well then you don't read the news very often or pay much attention to this kind of thing?

    This is an OLD STORY, the only thing NEW about it is that they are going to be sentenced in the next few months for it.

    (reply to this comment) (link to this comment)

  • Sep 12th, 2007 @ 6:29am
  • by bzzt

    The stock market is by itself a fraud. So frauding a fraud is no big deal.

    (reply to this comment) (link to this comment)

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