US regulator nabs pump and dump share spammers

A US couple has been accused by US federal regulators of making US$1m through a so called stock market pump and dump scam. Jeffrey Stone and his wife Janette Diller Stone of Connecticut have had civil fraud charges filed against them by the Securities and Exchange Commission (SEC).

The couple are accused of buying 288 million WebSky shares in September 2004, and weeks later making US$1m after artificially inflating the stock price through a fraudulent spam campaign. US regulator nabs pump-and-dump share spammers - Security -

Linked by shanmuga Wednesday, 23rd August 2006 12:00AM