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Microcap & Penny Stocks : TMMI - Total Multimedia -- Ignore unavailable to you. Want to Upgrade?

To: Dan Keenan who wrote (17173)	11/11/1999 4:01:00 PM
From: Marvin Katz	Read Replies (1) \| Respond to of 19109

The SEC announced the filing of twelve enforcement actions against thirty-eight defendants across the country for their involvement in microcap fraud, bilking investors of more than $25 million. In nine injunctive actions and two administrative proceedings the SEC alleges that the defendants violated the antifraud provisions of the federal securities laws by manipulating thirteen microcap stocks. The defendants engaged in "pump and dump" schemes and manipulated the stock price of microcap companies by disseminating materially false and misleading information about the financial condition, business relationships and future stock price of those companies, among other things. The defendants in these cases profited from the fraud, often by selling cheap insider stock after pumping up the stock price