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Strategies & Market Trends : Ride the Tiger with CD -- Ignore unavailable to you. Want to Upgrade?

To: robnhood who wrote (67917)	12/1/2006 7:16:20 PM
From: stan_hughes	Read Replies (1) \| Respond to of 314158

Wow, you're even older than me remembering that one. For those that don't know the name -- One of Bay Street's first major reforms was a crackdown on wash trading (a practice that created the appearance of activity through the manipulation of fictitious accounts) following the 1964 Windfall Scandal. Viola MacMillan, a doughty prospector, used the technique for fraudulent promotion of Consolidated Golden Arrow Mines. But it was Windfall Mines, another MacMillan company, that triggered the uproar after she drove up the price of its shares from 65 cents to $5.60 without any underlying value in the summer of 1964. She was later sentenced to nine months in jail in connection with Golden Arrow, but served just eight weeks. Windfall wasn't that much of a scandal because so many mine promoters followed her example, but the royal commission formed to investigate the case nevertheless recommended trading reforms. MacMillan died in 1993 at 90, fully pardoned and the holder of an Order of Canada