MTEI - Mountain Energy - No BASHING Allowed Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Microcap & Penny Stocks : MTEI - Mountain Energy - No BASHING Allowed

MTEI 0.00250

+4.2%

Oct 31 9:30 AM EST

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: Taki who wrote (10793)	7/10/2007 2:45:40 PM
From: StockDung	Read Replies (2) of 11684

Spam suspects charged over $4.6m share con By John Leyden Published Tuesday 10th July 2007 13:28 GMT Two Texans have been charged with securities fraud and money laundering offences over a pump-and-dump email stock scam. The case (http://www.sec.gov/news/press/2007/2007-130.htm) follows an investigation by the Securities and Exchange Commission (SEC) into the illegal use of pump-and-dump junk mails to promote the sale of at least 13 low-value stocks between May 2005 and December 2006. Darrel Uselton, 40, and his uncle, Jack Usleton, 69, allegedly used a series of spam emails campaigns to trick the gullible into buying worthless stocks on the basis of bogus insider information. The dynamic duo are suspected of using a network of compromised zombie PCs to distribute junk mail stock tips. Investigators reckon gullible users were defrauded out of $4.6m in furtherance of the scam before the dodgy duo were caught. The pair allegedly made the mistake of sending one of their fraudulent emails to a SEC lawyer, prompting the launch of an investigation that ultimately led to charges against the two. Texas criminal authorities have seized more than $4.2m from bank accounts associated with the Useltons. The prosecution of the Useltons is part of a larger SEC crackdown on stock scams. The SEC suspended trading of 35 companies which had been the subject of pump-and-dump emails in March. ®

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next