Pump-and-dump scheme
 

http://paul.kedrosky.com/archives/20...t_pumpand.html

Thought you guys would find this interesting. The stock in question up 60% this week!

Re: Pump-and-dump scheme
 

I got screwed by a pump and dump scam when I was 14. I knew what was going on and would buy the stock the moment the pumping began and sell 24 hrs later, making a profit 4 months straight. The one month I bought the company and it was frozen as the FBI made one of the largest busts in history, taking down a big chunk of the Bonnano family. http://money.cnn.com/2000/06/14/companies/fraud/

Lesson learned at an early age!

Re: Pump-and-dump scheme
 

I went to high school with a kid who made at least a few million bucks through pump and dumps(he made it all while he was still in HS). I think he was doing this during 1999-2000, he made a bunch of Yahoo profiles and then spammed individual stock message boards with a penny stock profile. He got in trouble with the SEC, had to pay $900k I think but he was still pretty rich and bought one of the bigger houses in town when he graduated from high school.

Re: Pump-and-dump scheme
 

How likely is it that the people behind this get caught?

Is it possible to ride along with it if you know what is going on but are not behind it, or does that make you part of it?

Re: Pump-and-dump scheme
 

[ QUOTE ]
I went to high school with a kid who made at least a few million bucks through pump and dumps(he made it all while he was still in HS). I think he was doing this during 1999-2000, he made a bunch of Yahoo profiles and then spammed individual stock message boards with a penny stock profile. He got in trouble with the SEC, had to pay $900k I think but he was still pretty rich and bought one of the bigger houses in town when he graduated from high school.

[/ QUOTE ]

http://en.wikipedia.org/wiki/Jonathan_Lebed ?

Re: Pump-and-dump scheme
 

[ QUOTE ]
[ QUOTE ]
I went to high school with a kid who made at least a few million bucks through pump and dumps(he made it all while he was still in HS). I think he was doing this during 1999-2000, he made a bunch of Yahoo profiles and then spammed individual stock message boards with a penny stock profile. He got in trouble with the SEC, had to pay $900k I think but he was still pretty rich and bought one of the bigger houses in town when he graduated from high school.

[/ QUOTE ]

http://en.wikipedia.org/wiki/Jonathan_Lebed ?

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Wow that is so [censored] awesome

Re: Pump-and-dump scheme
 

I got a text message about week ago at 1AM for a different penny stock, checked the next day and it jumped something insane like 30%. It seems amazing that people fall for this stuff, or maybe its just those who know whats going on and want to go along for the ride. Either way, it seems like going along for the ride would have been pretty profitable on this one, as long as you get in early in the day.

Re: Pump-and-dump scheme
 

[ QUOTE ]
I went to high school with a kid who made at least a few million bucks through pump and dumps(he made it all while he was still in HS). I think he was doing this during 1999-2000, he made a bunch of Yahoo profiles and then spammed individual stock message boards with a penny stock profile. He got in trouble with the SEC, had to pay $900k I think but he was still pretty rich and bought one of the bigger houses in town when he graduated from high school.

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How much did he start with?

Re: Pump-and-dump scheme
 

[ QUOTE ]
[ QUOTE ]
[ QUOTE ]
I went to high school with a kid who made at least a few million bucks through pump and dumps(he made it all while he was still in HS). I think he was doing this during 1999-2000, he made a bunch of Yahoo profiles and then spammed individual stock message boards with a penny stock profile. He got in trouble with the SEC, had to pay $900k I think but he was still pretty rich and bought one of the bigger houses in town when he graduated from high school.

[/ QUOTE ]

http://en.wikipedia.org/wiki/Jonathan_Lebed ?

[/ QUOTE ]
Wow that is so [censored] awesome

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That punk should be drawn and quartered.

Re: Pump-and-dump scheme
 

[ QUOTE ]
I got a text message about week ago at 1AM for a different penny stock, checked the next day and it jumped something insane like 30%. It seems amazing that people fall for this stuff, or maybe its just those who know whats going on and want to go along for the ride. Either way, it seems like going along for the ride would have been pretty profitable on this one, as long as you get in early in the day.

[/ QUOTE ]

did you not read my story? Stay away from these things..