Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Pastimes : Investment Chat Board Lawsuits -- Ignore unavailable to you. Want to Upgrade?

To: dantecristo who wrote (1824)	8/3/2001 1:18:48 AM
From: Jeffrey S. Mitchell	Read Replies (1) \| Respond to of 12465

Re: 6/19/01 - [DFCU] Drummond to Investigate Fraudulent Message Board Activity; Not Your ‘Classic’ Pump and Dump ... Drummond to Investigate Fraudulent Message Board Activity NEW YORK, Jun 19, 2001 /PRNewswire via COMTEX/ -- Drummond Financial Corporation ("the Company"), (OTC Bulletin Board: DFCU chart, msgs; Canadian Venture Exchange:DFC.U) today announced that unknown and unauthorized persons have placed misleading and untrue messages regarding a possible acquisition of the Company on a large number of Yahoo and other message boards. The Company states that such messages are completely false. The Company further advises that it is not involved in any acquisition or merger discussions and it has not authorized or made any announcements. The Company has requested that Yahoo and others remove the messages from all message boards and investigate the identity of the person leaving the messages. The Company has also contacted the NASD and the Canadian Venture Exchange and requested that trading in the Company's stock be investigated. The Company intends to fully investigate the source of the messages and trading in the Company's shares, and take such further legal action as is appropriate. Company Contact: Rene Randall 604-683-5767 Michael Smith 41-22-818-2929 MAKE YOUR OPINION COUNT - Click Here tbutton.prnewswire.com Source: Drummond Financial Corporation Contact: Rene Randall of Logan International Corp., 604-683-5767; or Michael Smith of Drummond Financial Corporation, 41-22-818-2929 (DFCU DFC.U.) siliconinvestor.com ===== DRUMMOND FINANCIAL CORP - HALTED, EFFECTIVE 01-06-20 06:04:53 PDT, AT Vancouver, BC, Jun 20, 2001 (Market News Publishing via COMTEX) -- 09:16 DRUMMOND FINL US$ (DFC.U) HALTED, EFFECTIVE 01-06-20 06:16:53 PDT, AT THE REQUEST OF THE COMPANY, PENDING AN ANNOUNCEMENT. CONTACT: TEL :(604) 683-5767 FAX :(604) 683-3205 (C) 2001 Market News Publishing Inc. siliconinvestor.com ===== DRUMMOND FINANCIAL CORP - RESUMING AT 01-06-20 11:30:00 PDT, AN Vancouver, BC, Jun 20, 2001 (Market News Publishing via COMTEX) -- 01:49 DRUMMOND FINL US$ (DFC.U) RESUMING AT 01-06-20 11:30:00 PDT, AN ANNOUNCEMENT HAVING BEEN MADE OVER VANCOUVER MARKET NEWS, PRE-OPENING 01-06-20 11:00:00 PDT. CONTACT: TEL :(604) 683-5767 FAX :(604) 683-3205 (C) 2001 Market News Publishing Inc. siliconinvestor.com ===== DRUMMOND FINANCIAL CORP - PRE-OPENING, ACCEPTING ORDERS. Vancouver, BC, Jun 20, 2001 (Market News Publishing via COMTEX) -- 02:00 DRUMMOND FINL US$ (DFC.U) PRE-OPENING, ACCEPTING ORDERS. CONTACT: TEL :(604) 683-5767 FAX :(604) 683-3205 (C) 2001 Market News Publishing Inc. siliconinvestor.com ===== DRUMMOND FINANCIAL CORP - OPENED Vancouver, BC, Jun 20, 2001 (Market News Publishing via COMTEX) -- 02:30 DRUMMOND FINL US$ (DFC.U) OPENED CONTACT: TEL :(604) 683-5767 FAX :(604) 683-3205 (C) 2001 Market News Publishing Inc. siliconinvestor.com ===== Drummond Financial Probes False Postings NEW YORK, NEW YORK, Jun 20, 2001 (Newsbytes via COMTEX) -- A merchant bank headquartered in Dublin, Ireland said someone posted misleading and false messages on several prominent financial message boards. Drummond Financial Corp. [OTCBB:DFCU] said messages regarding a possible acquisition of the company which have appeared on a number of Yahoo and other message boards are simply not true. A company statement said no acquisition or merger discussions are being conducted and it has not authorized or made any such announcements. Drummond said it has asked Yahoo and others to remove the messages from all bulletin boards and seek the identity of the poster. The National Association of Securities Dealers (NASD) and the Canadian Venture Exchange have been asked to explore any trading in DFCU stock that may have been affected by the postings. By Martin Stone CONTACT: Rene Randall, 604-683-5767 or Michael Smith, 41-22-818-2929 Reported by Newsbytes.com, newsbytes.com . Copyright 2001 The Washington Post Company siliconinvestor.com ===== Not Your ‘Classic’ Pump and Dump ... by Giando Argentina I have participated in the OTCBB market for a couple of years and I have seen quite a few pump and dumps take place. One in particular grabbed my attention today, originally because of the over 300% increase in the stock price but then I was amazed at the utter stupidity of the posters on Yahoo and Raging Bull spamming the Drummond Financial Corporation (OTCBB: DFCU) story. DFCU issued a Press Release yesterday evening also pointing out the false statements and advising that they will be pursuing an investigation to discover the source of the messages and trading in the Company's shares, and take such further legal action as is appropriate. One of the hundreds of posts made reference to CNBC, a J.P Morgan analyst and OTCBB News Network covering the supposed buyout of DFCU by a major bank for between $3 and $5 a share, depending which post you happen to read. While OTCBB News Network never covered a buyout of DFCU, I can imagine CNBC and J.P. Morgan probably would not either. These anonymous posters differ from the usual pump and dump posters because they used false quotes from news sources to give legitimacy to their scam, they used a major financial company in their posts and they stated everything as fact, even when fighting with the 'bashers' (the ones with common sense). They also left what could be their website address on some of the posts that Yahoo had not deleted. Lets say covering their tracks was not one of their strong points. So once again the old adage of do not believe everything you read on financial message boards holds true. If a major financial institution is buying a 20-cent stock for 3 bucks, you will be the last to know, never fails. The posters of these messages on DFCU may need to tone it down a bit, as it seems this is not their first spamming campaign. And they may not want to spend the money quite yet, I hear the SEC likes to get it back plus interest. CONTACT PENNY LANE We greatly value your comments and suggestions! Contact Penny Lane at: pennylane@otcbbstocks.net otcbbstocks.net =====