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SI - Site Forums : SI Spammer Hall of Fame
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To: Jeffrey S. Mitchell who wrote (838)12/16/1999 8:40:00 AM
From: Arcane Lore  Read Replies (1) of 4105
 
Spamo Profundo located?

As many of you may know, yesterday three individuals were named in a SEC civil fraud suit in connection with the alleged manipulation of the shares of NEI Webworld (NEIP). Two of the three also were arrested and charged with criminal stock fraud (see #reply-12302928, #reply-12302923, and #reply-12299673 for further details). The alleged manipulation involved spamming a rumored takeover of NEIP across various Internet messsage boards (fortunately it appears SI may have been spared the NEIP spam). Included in an LA Times story on these events was the following:

An affidavit filed by the U.S. attorney in the case quotes another UCLA student saying Aziz-Golshani, Melamed and other UCLA students have previously been involved in boosting shares of other thinly traded stocks.

According to the document, a student named Arash Danny Molayem told an investigator that he and the others had been involved in "posting stocks"--buying shares of a small company, spreading false information using various screen names and then unloading the stocks for a profit.

Molayem said they manipulated several stocks, including JustWebIt.com Inc. and Food Vision Inc., according to the document.

latimes.com

Unfortunately no further details are provided in the article concerning the alleged FoodVision stock manipulation.
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