Posted on 08/14/2013 8:29:03 AM PDT by AtlasStalled
Nine people have been charged in one of the largest international penny stock frauds ever, federal authorities said Tuesday in New York, one of five states where arrests were made. * * * According to court records, the defendants victimized investors in nearly three dozen countries and generated more than $140 million by fraudulently inflating the price of penny stocks and then dumping them on unsuspecting investors.
(Excerpt) Read more at abcnews.go.com ...
“A fool and his money . . . .”
Right?!
Don’t ever give money to some stranger who calls on the phone whether it’s for an investment or a charity!!
I’d give a Yen for...
My thought exactly. Who are the idiots who give these guys money?
“Pay no attention to the naysayers! XYZ stock is ready to make a BIG move upward!”
Or at least that’s what the spamming e-mails say. Do you think they might be pumping some trash stock up??
“Who are the idiots who give these guys money?”
Unfortunately, it’s very frequently the very elderly who fall prey to these swindles. Hopefully, there’s a very special place in Hell reserved for the scumbags who swindle old folks out of their remaining life savings.
$140 million? Let’s see, that 140,000,000,000 pennies. From here to the moon.
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