Anthony @ Equity Investigations, Dear Anthony, Message Board

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Strategies & Market Trends : Anthony @ Equity Investigations, Dear Anthony,

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To: afrayem onigwecher who wrote (92341)	11/16/2005 1:19:19 PM
From: StockDung	Read Replies (2) of 122087

SEC says investors inflated stock, then sold (Hartford-AP, Nov. 16, 2005 11:54 AM) _ The Security and Exchange Commission has accused six people of a nine million dollar "pump and dump" scheme. They are accused of inflating a Norwalk company's stock price, then selling the shares before they crashed. The SEC alleges that three men from Nutley, New Jersey, bought Linkon, an insolvent company based in Fairfield County, and changed its name to PacketPort.com. They then paid IP Equity to falsely tout the company in its stock letter. PacketPort.com's stock quadrupled -- from five dollars to twenty dollars -- by the time it was sold. The SEC says PacketPort.com's president, Robert Durando, sought to conceal the alleged dumping by selling the stock through another company, Microphase Inc., where he is chief operating officer.

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