Spam Doesn’t Pay

By admin | July 10, 2007
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The United States Securities and Exchange Commission filed securities fraud charges against Darrel and Jack Uselton of Texas in a scheme which swindled investors out of more than $4.6 million.

The SEC alleges that the pair illegally profited during a 20-month “scalping” scam by obtaining shares from at least 13 penny stock companies and selling those shares into an artificially active market they created through manipulative trading, spam email campaigns, direct mailers, and Internet-based promotional activities.

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