RE:Community Watch - Internet Fraud[Invest420 scumbag is under investigation. The goof (along with Senor) decided it would be cute to Twitter out the fake news that GLH breaks laws in Canada. All / Any credentials are at stake. In the USA, Sir Alan Brochstien would face criminal charges. Of course Senor's community college degree doesn't warrant credentials HAHA
Interesting post...Thanx. quote=DiIslandPub]
Internet fraud
According to enforcement officials of the
Securities and Exchange Commission, criminals engage in
pump-and-dump schemes, in which false and/or fraudulent information is disseminated in chat rooms, forums, internet boards and via email (spamming), with the purpose of causing a dramatic price increase in thinly traded stocks or stocks of shell companies (the "pump"). When the price reaches a certain level, criminals immediately sell off their holdings of those stocks (the "dump"), realizing substantial profits before the stock price falls back to its usual low level. Any buyers of the stock who are unaware of the fraud become victims once the price falls.
[10] The SEC says that Internet fraud resides in several forms:
Online investment newsletters that offer seemingly unbiased information free of charge about featured companies or recommending "stock picks of the month." These newsletter writers then sell shares, previously acquired at lower prices, when hype-generated buying drives the stock price up. This practice is known as
scalping. Conflict of interest disclosures incorporated into a newsletter article may not be sufficient. Accused of scalping,
Thom Calandra, formerly of
MarketWatch, was the subject of an
SEC enforcement action in 2004.
[11][12] ·
Bulletin boards that often contain fraudulent messages by hucksters.
[13] ·
E-Mail spams from perpetrators of fraud.
[14] Similar rules apply in Canada . . . Watch your back.
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