Stock scams

SEC, the US Securities and Exchange Commission, is now trying to put an end to the stock scams by closing down trade in 35 so-called Penny Stocks. Forbes, Lisa Lerer doesn’t have high hopes on this putting an end to stock spams:

The federal government made headlines on Thursday by cracking down on dozens of penny stocks whose prices had been manipulated by mass e-mailers.

But while the Securities and Exchange Commission made a splash by unveiling “Operation Spamalot”, it is unlikely to end spam. In the face of increased enforcement, warnings and federal laws, spam is not only continuing, but flourishing. And there’s no reason to think the SEC will be able to do anything to stop it.

Read on at:
forbes.com/home/security/2007/03/08/sec-spam-stock-tech-security-cx_ll_0308spam.html

Added: Here is the SEC press release:
www.sec.gov/news/press/2007/2007-34.htm

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Stock scams have been a real pain during the passed years, but this one has a new angle. It looks like an internal memo that has been sent out to the wrong address by misstake. It didn’t make it quite through my server-side spam filters though, even if it didn’t gather enough spam points foor immediate deletion.

From: RRGI Consulting <Coverage@rrgi.prserv.net>
To: PreRelease [my primary e-mail address]
Date: 2007-mar-06 14:51
Subject: *****SPAM***** FW: RRGI press release schedule

The following is the schedule of releases thus far for RRGI for March-

Wednesday Mar. 7th: Announce corporate coverage initiated to 22 million investors.

Monday Mar. 12th: Announce Venturepoint Research report discussing contracts being signed by advertisers and the revenue generated from these contracts.

Monday Mar. 19th: Announce Private newsletter coverage. The Savvy Investor will feature the company in the March edition. The Savvy Investor is a well respected and followed outlet providing market information, financial analysis and major media tie-ins.

Monday March 26th: Announce March Edition Updates and Reiterate Spike TV series launch, new contracts and revenue projections.

This should get us started..I am sure there will be other information that will be added as well during this same period as well as after, such as new advertisers as deals are finalized.

Regards,
Steven

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