Interesting excerpt from SEC link: Background Information On Microcap Fraud
sec.gov
Microcap fraud typically takes one of two forms. The first – the
The Nature of Microcap Fraud
"pump and dump" scheme – often involves fraudulent sales practices, including high pressure tactics from "boiler room" operations where a small army of sales personnel cold call potential investors using scripts to induce them to purchase "house stocks" – stocks in which the firm makes a market or has a large inventory. The information conveyed to investors often is at best exaggerated and at worst completely fabricated. Increasingly, these stocks also are being touted on the Internet by unregistered promoters. The promoters of these companies, and often company insiders, typically hold large amounts of stock and make substantial profits when the stock price rises following intense promotional efforts. Once the price rises, the promoters, insider and brokers sell, realizing their profits.
==========================
Anyone know anything about Michael A. Furr
the CEO of the rag pumping the likes of GTCI, VXTK
BAAT and others????
Would be interesting to find out more about this "promoter"...Don't you think...Jeff, Josef, Ted, Janice, et cetera...?????
Furr was with a company called Nutek, I believe and was dismissed this past summer to pursue other "interests"...
That's all I "know" so far.
Chat with y'all later...
z |
