GGNC - GIC/Global Intertainment Corporation Message Board

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Microcap & Penny Stocks : GGNC - GIC/Global Intertainment Corporation

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To: ztect who wrote (392)	11/27/1998 9:51:00 AM
From: ztect	Read Replies (1) of 2585

Scams on the Internet upside.com September 25, 1998 By Geoffrey James Scams on the Internet The Internet and the online trading environment it supports put enormous power in the hands of entrepreneurs and investors: Entrepreneurs can make customers immediately aware of their companies and products, and investors can quickly and easily put their money into stocks and investments that might otherwise be neglected. But trouble is brewing in this fiscal paradise as growing numbers of criminals are using the Internet to promote fraudulent stock schemes and encourage investors to make questionable investments. Such nefarious dealings may in the long run injure the legitimate market for online securities trading and e-commerce. "The Internet is a cheap and efficient way to reach a large number of people quickly," explains Erich Schwartz, assistant director of enforcement at the Securities and Exchange Commission (SEC). "And there are people who are going to take advantage of those efficiencies to carry out securities fraud." The problem has grown so large, in fact, that the Federal Trade Commission (FTC) receives as many as 1,500 complaints a day, and that number is increasing, according to Paul Luehr, chairman of the FTC's Internet Coordinating Committee. To make matters worse, a disproportionate number of complaints center around bogus high-tech companies, which may make it difficult for high-tech startups to use the Web to attract and retain new investors..."

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