Wednesday, July 18, 2007

Manipulate Stocks, Go To Jail

For those of you who think that securities fraud is not a big deal, or who think it is "fun" to attempt to pump stocks on the Internet, here is a little lesson.

The "Vicemail" defendants are going to jail. You remember vicemail - the defendants left voicemail messages on thousands of answering machines, making it appear that the caller had reached a wrong number, but leaves a stock tip.

The husband and wife behind the scheme settled with the SEC, and last week pled guilty to securities fraud charges.
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