posted
SEC charges stock-tip Web site operator with fraud
PrintDisable live quotesRSSDigg itDel.icio.usBy Robert Schroeder Last Update: 4:29 PM ET Aug 1, 2006
WASHINGTON (MarketWatch) -- Securities regulators charged a California man with fraud on Tuesday, alleging he made more than $2.7 million in illegal profits by secretly selling stocks he recommended on his Web site. The SEC said Nicholas Czuczko of Beverly Hills, Calif., touted penny stocks on www.the*********.com even as he planned to sell them. He didn't disclose his sales on the site after visitors to the site drove up the price of the shares, the SEC said. Regulators are seeking a return of ill-gotten gains and civil monetary penalties.
-------------------- Up Up and Away! Posts: 225 | From: Minneapolis | Registered: Jan 2006
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posted
what do you think will happen to him? i've heard a few months ago some of these pump and dumpers were thrown in jail
Posts: 550 | From: MI | Registered: Nov 2005
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posted
Opps....Shakerzz better watch his back! Not that I have anything against him, but looks like they are gonna start cracking down again finally!
Posts: 596 | From: New Jersey | Registered: Apr 2006
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quote:Originally posted by Wino Ph.D.: SEC charges stock-tip Web site operator with fraud
PrintDisable live quotesRSSDigg itDel.icio.usBy Robert Schroeder Last Update: 4:29 PM ET Aug 1, 2006
WASHINGTON (MarketWatch) -- Securities regulators charged a California man with fraud on Tuesday, alleging he made more than $2.7 million in illegal profits by secretly selling stocks he recommended on his Web site. The SEC said Nicholas Czuczko of Beverly Hills, Calif., touted penny stocks on www.the*********.com even as he planned to sell them. He didn't disclose his sales on the site after visitors to the site drove up the price of the shares, the SEC said. Regulators are seeking a return of ill-gotten gains and civil monetary penalties.
Hmmm, I don't know any of the details, and I don't know very much about SEC rules but from first glance....
What ever happened to buyer beware?
From Stock+ster website:
"The*********.com’s employees, affiliates, and or family members or friends of the aforementioned own positions in all of the featured companies which were acquired prior to the publication of this announcement and will buy and/or sell the stock of said companies at anytime without further notification. You should be aware that the aforementioned have a present intent and will buy or sell before, during, and or after (or any other possible combination) any and all companies that are mentioned on The*********.com."
Posts: 2430 | From: CA | Registered: Jun 2005
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posted
Finally !!!! There are at least three others I suspect that Elliot Ness is looking at ...
Posts: 2660 | From: Pennyland USA | Registered: Jun 2004
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posted
this has to be an eye-opener for some people out there. disclaimers dont mean chit when it comes to this stuff
Posts: 6397 | Registered: Jan 2006
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posted
There are many stock scammers out there. It pays to ignore any claims of a scammer that a stock is going to go to the moon.
-------------------- Making it a little at a time....Now is the time to determine if you are a man or a mouse. Posts: 1543 | From: Ogilvie, MN, US | Registered: Apr 2004
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posted
Guys please. The reason why they got him was because the SEC warned him about his company months ago. That's why his site was down for a while. Then he came back with a disclaimer, but the problem was him being a CEO of a company and no one had any idea who he was.
Think about it ***** has been doing this for how long now? He doesn't post when he sells his shares for profit. Nor does Green baron, or any of the promoters. ********* only had 1 good play. AMRE. All of his other stocks he was waiting to sell to everyone who bought.
SEC watched everything he did and him paying over 1m dollars to yahoo and google to gain support is what really made them pay attention to what he did. If you are releasing a stock and not frontloading, then you don't have to disclose your position.
Posts: 162 | From: Baltimore, MD | Registered: Apr 2005
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posted
IMO avoid all of them. Do your own research.
-------------------- Making it a little at a time....Now is the time to determine if you are a man or a mouse. Posts: 1543 | From: Ogilvie, MN, US | Registered: Apr 2004
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posted
RA you have to understand that many of the stock which run daily are done by a group. Some sites are better then others. Some sites recommend a stock then in 1-2 days the price shoots up 1,000%.
Stock was nothing more then a frontloader who would sell to his people once he released his stock. So his people had no chance in making money at all. Heck this site is very much like *********s. You have some people who do the same exact thing he does.
Posts: 162 | From: Baltimore, MD | Registered: Apr 2005
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SEC Charges Operator of Stock Picking Website with Secretly Profiting in Investment Scam FOR IMMEDIATE RELEASE 2006-128 Washington, D.C., August 1, 2006 — The Securities and Exchange Commission today announced the filing of civil securities fraud charges against the operator of an Internet website who made more than $2.7 million in profits by secretly selling the stocks he recommended as “mega bonus buys” on his site, [URL=http://www.the stock ster .com]www.the stock ster.com[/URL] (the Stock ster website).
The Commission’s complaint alleges that Nicholas A. Czuczko, age 34, of Beverly Hills, Calif., routinely recommended thinly-traded penny stocks on his website while he personally planned to sell the stock into the rising price spurred by the recommendation. Czuczko’s practice was to buy shares of the recommended stocks shortly before posting the selection on the stock ster website. When unsuspecting Internet visitors bought the recommended stocks and drove up the price of the shares, Czuczko sold or “scalped” his holdings for substantial profits without disclosing his own sales on the stock ster site. A screen shot of the stock ster website from March 3, 2006, is attached to this release.
According to the Commission’s complaint, Czuczko funded an extensive Internet advertising campaign to drive traffic to the stock ster website. Between mid-December 2005 and the end of March 2006, the Commission alleges, Czuczko paid approximately $1.15 million to Internet search companies and other web advertisers. Ads for the stock ster site appeared on Google and Yahoo! in response to Internet searches for terms like “stocks” and “investment advice,” and on popular financial websites like Marketwatch.com, The Street .com, and The Wall Street Journal Online. Czuczko’s advertising campaign proved successful, and his stock picks reliably fueled trading and price increases in the recommended stocks.
Linda Chatman Thomsen, Director of the Commission’s Division of Enforcement, said, “Investors need to be wary of unsolicited stock recommendations they find on the Internet. As in this case, the website operator may have hidden motives in recommending stocks to the detriment of unsuspecting investors.”
Helane L. Morrison, District Administrator of the Commission’s San Francisco District Office, said, “The Commission is committed to stamping out these scalping schemes that prey on unsuspecting investors.”
In a related scheme, the Commission charges that Czuczko touted shares of his own company, Epic Media, Inc. Epic Media, based in Los Angeles, is a development stage company with plans to publish “lifestyle magazines” for men and women. Czuczko is Epic Media’s CEO and CFO, and chairman of the company’s board of directors, as well as its majority shareholder. The Commission alleges that in early December 2005 Czuczko recommended the purchase of Epic Media stock on a website that was the predecessor to the stock ster site. After the price of Epic Media stock spiked, Czuczko sold his shares for a small profit. Czuczko did not publicly disclose those trades, among others, in stock ownership forms required to be filed with the Commission under federal securities laws.
The Stocks ter website included a boilerplate disclaimer that the site’s unidentified officers and employees “may” trade in the recommended stocks. The truth, however, was that Czuczko always sold his shares as soon as his recommendation had its intended effect of increasing the price of the stock. The Stock ster website provided no warning to Internet visitors that the site’s operator intended—and in fact made it a regular practice—to sell the stocks at the same time that he posted buy recommendations on the site. By failing to disclose his intent to sell at the time when he made the recommendation, Czuczko was able to turn a quick profit at the expense of the investors who followed the site’s advice.
The Commission’s complaint, filed in federal district court in Los Angeles, seeks to enjoin Czuczko from future violations of the antifraud and ownership disclosure provisions of the federal securities laws. The Commission requests that the district court order Czuczko to disgorge his ill-gotten gains plus prejudgment interest, impose a civil monetary penalty, and bar him from participating in penny stock offerings and from serving as an officer or director of a publicly traded company.
The Commission acknowledges the assistance of NASD Market Regulation with its investigation.
For tips to avoid costly mistakes, the Commission encourages investors to read “Pump & Dump.con: Tips for Avoiding Stock Scams” on the Internet at http://www.sec.gov/investor/pubs/pump.htm.
For more information, contact:
Helane L. Morrison District Administrator (415) 705-2450
Tracy L. Davis Branch Chief (415) 705-2318
United States Securities and Exchange Commission San Francisco District Office
Additional materials: Litigation Release No. LR-19787 and Complaint
posted
Chopper you should of used ********* to run PLNI. Didn't you say it would break .029 2 months ago on subpennyradio. They should fine you for being a bigtime bagholder of PLNI
Posts: 162 | From: Baltimore, MD | Registered: Apr 2005
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That was just an OPINION based on IF PLNI released the proper information and had decent numbers. I also said .02 not .029 should all the filings happen and sales come in. It it still may. Just not in the time period a lot of folks thought.
My trading is really none of your business. But, FYI, I have had great year. Even CNES pulled through when it hit .0028 and it has a 14 billion float.
Being an idiot is your right. Just don't blame others for being a bagholder with silly childish comments.
Happy Trading
Chopper
-------------------- It will run when you least expect it. :) Posts: 1161 | From: NC | Registered: Mar 2005
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quote:Originally posted by Chopper: Your too funny stocks.
That was just an OPINION based on IF PLNI released the proper information and had decent numbers. I also said .02 not .029 should all the filings happen and sales come in. It it still may. Just not in the time period a lot of folks thought.
My trading is really none of your business. But, FYI, I have had great year. Even CNES pulled through when it hit .0028 and it has a 14 billion float.
Being an idiot is your right. Just don't blame others for being a bagholder with silly childish comments.
Happy Trading
Chopper
Sir you have been in PLNO since it was above .01 Not to mention the dilution is killer on PLNI. It's ok maybe ********* can run this for you. Send him 60k he will be able ot pull it off.
Posts: 162 | From: Baltimore, MD | Registered: Apr 2005
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posted
I understand some of these stock picking websites are scams, but do people on this board ever found a reliable one? Of course it can't always be right 100% of the time, but sometimes they're interesting.
Posts: 819 | Registered: Apr 2006
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posted
RA they aren't scams... Well I think if you frontload and as you alert your members they sell thats a scam. On the other hand a website had a stock MHLXZ which started at .006. They alerted it and guess where it's High was after that .006.................. 15 cents. And it held above .1 for over 3 days. So not much of a scam huh?
Posts: 162 | From: Baltimore, MD | Registered: Apr 2005
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U.S. SECURITIES AND EXCHANGE COMMISSION Litigation Release No. 19787 / August 1, 2006 SEC v. Nicholas A. Czuczko, Case No. CV 06-4792 GAF (C.D. Cal. filed Aug. 1, 2006) SEC Charges Operator of Stock Picking Website With Secretly Profiting in Investment Scam The Securities and Exchange Commission today announced the filing of civil securities fraud charges against the operator of an Internet website who made more than $2.7 million in profits by secretly selling the stocks he recommended as "mega bonus buys" on his site, www.the*********.com (the ********* website).
The Commission's complaint alleges that Nicholas A. Czuczko, age 34, of Beverly Hills, Calif., routinely recommended thinly-traded penny stocks on his website while he personally planned to sell the stock into the rising price spurred by the recommendation. Czuczko's practice was to buy shares of the recommended stocks shortly before posting the selection on the ********* website. When unsuspecting Internet visitors bought the recommended stocks and drove up the price of the shares, Czuczko sold or "scalped" his holdings for substantial profits without disclosing his own sales on the ********* site.
According to the Commission's complaint, Czuczko funded an extensive Internet advertising campaign to drive traffic to the ********* website. Between mid-December 2005 and the end of March 2006, the Commission alleges, Czuczko paid approximately $1.15 million to Internet search companies and other web advertisers. Ads for the ********* site appeared on Google and Yahoo! in response to Internet searches for terms like "stocks" and "investment advice," and on popular financial websites like Marketwatch.com, TheStreet.com, and The Wall Street Journal Online. Czuczko's advertising campaign proved successful, and his stock picks reliably fueled trading and price increases in the recommended stocks.
In a related scheme, the Commission charges that Czuczko touted shares of his own company, Epic Media, Inc. Epic Media, based in Los Angeles, is a development stage company with plans to publish "lifestyle magazines" for men and women. Czuczko is Epic Media's CEO and CFO, and chairman of the company's board of directors, as well as its majority shareholder. The Commission alleges that in early December 2005 Czuczko recommended the purchase of Epic Media stock on a website that was the predecessor to the ********* site. After the price of Epic Media stock spiked, Czuczko sold his shares for a small profit. Czuczko did not publicly disclose those trades, among others, in stock ownership forms required to be filed with the Commission under federal securities laws.
The ********* website included a boilerplate disclaimer that the site's unidentified officers and employees "may" trade in the recommended stocks. The truth, however, was that Czuczko always sold his shares as soon as his recommendation had its intended effect of increasing the price of the stock. The ********* website provided no warning to Internet visitors that the site's operator intended-and in fact made it a regular practice-to sell the stocks at the same time that he posted buy recommendations on the site. By failing to disclose his intent to sell at the time when he made the recommendation, Czuczko was able to turn a quick profit at the expense of the investors who followed the site's advice.
The Commission's complaint, filed in federal district court in Los Angeles, seeks to enjoin Czuczko from future violations of the antifraud provisions of the federal securities laws (Section 17(a) of the Securities Act of 1933, Section 10(b) of the Securities Exchange Act of 1934, and Rule 10b-5 thereunder). The complaint also seeks to enjoin Czuczko from violations of the ownership disclosure provisions of the federal securities laws (Section 16(a) of the Securities Exchange Act and Rule 16a-3 thereunder). The Commission requests that the district court order Czuczko to disgorge his ill-gotten gains plus prejudgment interest, impose a civil monetary penalty, and bar him from participating in penny stock offerings and from serving as an officer or director of a publicly traded company.
The Commission acknowledges the assistance of NASD Market Regulation with its investigation.
Notice that this SEC case was based on the time period of DEC to march. Thats when he hasn't had his disclaimer. Meaning what he has done since then is legit.
Posts: 162 | From: Baltimore, MD | Registered: Apr 2005
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posted
No I mean they're not all scams... but some of them sure are... I was just wondering if some guys on the board here could list some of these websites they consider as being honest and that you can trust.
Posts: 819 | Registered: Apr 2006
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posted
Ive seen Stock sters picks openly touted here, along with shakerzz,daily.Anyone think shakerzz is different,and doesnt frontload and sell into the spike?
-------------------- It takes a lot of attaboys to make up for an aww chit Posts: 483 | From: OK | Registered: Aug 2005
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posted
i along with others have made plenty of money off p&ds just remember, 20-30% are acceptable Posts: 1029 | From: Long Island, NY | Registered: Apr 2006
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