SEC reports new stock scam

sec

A new scam is going around, according to this SEC press release.

Here’s how the pump & dump scam work: They leave a voicemail — “breezy, intimate messages” — sounding as if a female caller mistakenly believes she has dialed a girlfriend, who then pretends to confide inside information she has learned from “that hot stock exchange guy I’m dating.”

Suckers here the message, and go out and buy a worthless, highly touted pump and dump stock.

The SEC is asking investors who receive these kinds of calls to let them know the company being touted, the exact date and time the call was received, the number called, and the number from which the call was made, if available. E-mail the information to Enforcement@sec.gov, or call the SEC at 1-800-SEC-0330.

The creativity of these dirtbags is un-ending . . .


Sources:

SEC Press Release

http://www.sec.gov/news/press/2004-113.htm

SEC Investor Alert

http://www.sec.gov/investor/pubs/wrongnumberscam.htm

Category: Finance

Sideways action since October 2003

Category: Finance

Barrons picks up “What’s in Store for the Rest of ’04?”

Category: Media

Fund Managers as Bearish Now as in 2002

Category: Finance

Nasdaq versus 1929 bubble

Someone had asked for additional views on the 3 Bubbles form the WSJ a few months ago. Here’s IBD’s take on it; I’ll try to post another perspective on it from Jim Stack of Investech . . . Source: IBD http://www.investors.com/images/editimg/feature0817.gif

Category: Finance

Oil: Inflation adjusted

Category: Finance

Google IPO: Too Clever by Half

Category: Finance, Web/Tech

3 Handed Strategist

Category: Finance

Chart of the Week: Short-term Pressure Factor

Category: Finance

Slowing Growth?

Category: Finance