This is topic SEC Files Emergency Action to Stop Ongoing Microcap Stock Fraud in forum Micro Penny Stocks, Penny Stocks $0.10 & Under at Allstocks.com's Bulletin Board.
SEC Files Emergency Action to Stop Ongoing Microcap Stock Fraud FOR IMMEDIATE RELEASE 2006-50 Washington, D.C., April 6, 2006 - The Securities and Exchange Commission today filed an emergency enforcement action in federal court charging two New York men, Faisal Zafar and Sameer Thawani, with perpetrating an ongoing securities fraud over the Internet. The complaint alleges that since late 2004 and as recently as March 2006, Zafar and Thawani have engaged in a "pump and dump" scheme to manipulate the market for at least 24 thinly traded "microcap" or "smallcap" stocks. The defendants made over $873,000 by purchasing the stocks, anonymously disseminating false information about the companies on popular Internet message boards, and then selling the stocks at artificially inflated prices.
To deceive investors into buying these stocks, the defendants have preyed on public fears about terrorism and international health epidemics, among other topics. For example, after the London subway bombings and reports concerning a deadly "bird flu" virus, Zafar posted messages falsely stating that one issuer was receiving a contract from the Department of Homeland Security to improve security on New York City subways, and that another issuer was acquiring a company that produces "bird flu" vaccine.
Acting on the Commission's application for emergency relief, the United States District Court for the Eastern District of New York issued a temporary restraining order that, among other things, froze the defendants' assets and set a date for a hearing on the Commission's motion for entry of a preliminary injunction against further violations and other relief while the action is pending.
Mark K. Schonfeld, Director of the Commission's Northeast Regional Office, said, "Today's action underscores the Commission's continued vigilance against all forms of fraud involving the microcap market. Investors who participate in this segment of our capital markets are entitled to know that the securities laws will be vigorously enforced against all violators."
David Rosenfeld, Associate Regional Director of the Northeast Regional Office, added, "The defendants preyed on innocent investors by using the relative anonymity of the Internet to manipulate the market. We have acted today to stop a brazen fraud and hold the perpetrators responsible for the harm they caused investors."
The Commission's complaint further alleges as follows:
After buying shares at prevailing market prices, Zafar and Thawani used online aliases to post messages touting the stock and containing phony press release excerpts or other fake "news" about the issuer to deceive investors. In addition to capitalizing on actual events in the news, the phony headlines concocted by the defendants have also included false claims of huge business contracts, mergers and strategic alliances between these little-known issuers and an array of major corporations -- such as Google, Kmart and Sun Microsystems -- and other dramatic developments designed to make the targeted stocks appear to be surefire investment opportunities.
Zafar and Thawani are engaged in a classic Internet "pump and dump" manipulation scheme whose basic structure is as follows: (1) one or both of the defendants purchase shares of the issuer's stock in their online brokerage accounts; (2) the defendants register multiple online identities ("User IDs") with Internet message board services; (3) the defendants post multiple messages attributed to their User IDs on Internet message boards devoted either to the touted stock or to other, more widely followed stocks; (4) the messages contain materially false statements about the issuer and urge other investors to buy the stock; and (5) as soon as the stock price increases due to purchases spurred by the false statements, the defendants sell their shares at the inflated price for a quick profit. After their sales, the price of the stock quickly returns to its pre-manipulation level. These events sometimes all occur within the span of a single day.
The defendants have created at least 300 different User IDs and have used them to post well over one thousand messages fraudulently touting the stock of at least 24 small-cap issuers, some of them on multiple occasions. The defendants created these multiple online aliases in order to conceal their identities from investors and make it appear as if the same breaking "news" is coming from multiple independent sources. More recently, the defendants have also targeted specific investors by posing as moderators of Internet user groups devoted to low-priced stocks and sending emails to the group members while simultaneously posting false messages on different Internet message boards about the same stock under different user names. These emails purport to alert investors to imminent news about the stock and urge them to capitalize by buying the stock before the "news" is made public.
The complaint charges Zafar and Thawani with violations of the antifraud provisions of the federal securities laws. In addition to permanent and preliminary injunctive relief, the complaint seeks disgorgement of all illegal profits and the imposition of civil monetary penalties.
The Commission acknowledges the cooperation of the United States Attorney's Office for the Eastern District of New York and the Federal Bureau of Investigation in this matter.
# # #
For further information contact:
Mark K. Schonfeld (212) 428-1020 Regional Director, Northeast Regional Office
David Rosenfeld (212) 336-0153 Associate Regional Director, Northeast Regional Office
George N. Stepaniuk (212) 336-0173 Assistant Regional Director, Northeast Regional Office
great read!!!! learn (dd)
Posted by logical buyer on :
Looks like it started with KSWJ.
Posted by Dustoff101 on :
I have been warning people for months about this mess in the Pinks/Greys and OTCBB'S...
You people had better take a hard look at many of the so-called Hero posters around here..
I firmly believe many posters are " dirty " as hell....Many probably move in and out of here by simply changing their IP...
Many dirty Posters have already been successfuly removed from Allstocks.
I am telling the ones who are "not involved" with these scamsters, you have not seen anything yet...The Tip of the Ice Berg is here, and the boards will clean themselves up or the FBI SEC is going to shut the whole damn thing down.
Support Bob Frey and all in Allstocks in their successful efforts to clean things up!
Con Artists and lying thieves beware, your day in court is coming..
And believe me, you can take that to the bank!
Posted by CMoney on :
I wonder what stocks were a part of their PnD scheme
Posted by buckstalker on :
BINGO...
quote:Originally posted by Dustoff101: I have been warning people for months about this mess in the Pinks/Greys and OTCBB'S...
You people had better take a hard look at many of the so-called Hero posters around here..
I firmly believe many posters are " dirty " as hell....Many probably move in and out of here by simply changing their IP...
I am telling the ones who are "not involved" with these scamsters, you have not seen anything yet...The Tip of the Ice Berg is here, and the boards will clean themselves up or the FBI SEC is going to shut the whole damn thing down.
Support Bob Frey and all in Allstocks in their successful efforts to clean things up!
Con Artists and lying thieves beware, your day in court is coming..
And believe me, you can take that to the bank!
Posted by dacollecter on :
HUGE! This saves us investers from the possibilty from getting screwed a little more.
Posted by BuyTex on :
quote:The complaint alleges that since late 2004 and as recently as March 2006, ...
fwiw, SEC investigations do not move quickly...
Posted by Bearclaw on :
Thanks to Bob Frey and Allstocks for keeping this site as clean as possible when these crooks show up...Also, thanks to the members of Allstocks who confront these scam artists every time they are here...Way to go...
Posted by madmoney on :
dustoff101: you are so right, lots of pumpers on these threads pushing BS stocks, sometimes i call them on it when my DD exsposes the bullsh!t, they usualy gang up on me as a basher! LOL! DD is the best way to guard yourself against a P and D scam. pumps usualy run but they ALWAYS fall leaving uninformed bag holders in thier wake! get in on the set up ( pump ) and sell on the spike never hold out for sky high gains pumpers promiss are coming! play them ( pumpers ) dont let them play you !
Posted by Dustoff101 on :
When the Hammer of justice falls on Qbid, it will be very interesting seeing just who gets the FBI SEC Treatment.
Posted by dacollecter on :
quote:Originally posted by madmoney: dustoff101: you are so right, lots of pumpers on these threads pushing BS stocks, sometimes i call them on it when my DD exsposes the bullsh!t, they usualy gang up on me as a basher! LOL! DD is the best way to guard yourself against a P and D scam. pumps usualy run but they ALWAYS fall leaving uninformed bag holders in thier wake! get in on the set up ( pump ) and sell on the spike never hold out for sky high gains pumpers promiss are coming! play them ( pumpers ) dont let them play you !
what if it wasn't a pump and you bashed. The stock company can sue. be careful.
Posted by Bearclaw on :
Maybe we'll see the end of the "front loaded" group plays here....Hope your listening Momo..Elliot Ness is lurking...
Posted by madmoney on :
quote:Originally posted by dacollecter:
quote:Originally posted by madmoney: dustoff101: you are so right, lots of pumpers on these threads pushing BS stocks, sometimes i call them on it when my DD exsposes the bullsh!t, they usualy gang up on me as a basher! LOL! DD is the best way to guard yourself against a P and D scam. pumps usualy run but they ALWAYS fall leaving uninformed bag holders in thier wake! get in on the set up ( pump ) and sell on the spike never hold out for sky high gains pumpers promiss are coming! play them ( pumpers ) dont let them play you !
what if it wasn't a pump and you bashed. The stock company can sue. be careful.
I never bash, i post only VARIFIABLE FACTS so i am not worried about being sued. if the company is not what the pumpers say it is and i can prove it i will post otherwise i just watch and play the game from the sidelines.
Posted by Dustoff101 on :
quote:Originally posted by dacollecter:
quote:Originally posted by madmoney: dustoff101: you are so right, lots of pumpers on these threads pushing BS stocks, sometimes i call them on it when my DD exsposes the bullsh!t, they usualy gang up on me as a basher! LOL! DD is the best way to guard yourself against a P and D scam. pumps usualy run but they ALWAYS fall leaving uninformed bag holders in thier wake! get in on the set up ( pump ) and sell on the spike never hold out for sky high gains pumpers promiss are coming! play them ( pumpers ) dont let them play you !
what if it wasn't a pump and you bashed. The stock company can sue. be careful.
------------------------------------------------
The Stock Company? You got that right..
They are a company in many cases that does not have buisness operations..
Their " Business " is to sell suckers stock!
You are the one who should beware!
Let um Sue me! They will lose the Malicious attempt at suing me, then the Judge will award me!
Posted by racjis on :
If you click through the links at the bottoms of the pages at the SEC site discussing this, you can get to the actual complaint filed by the SEC which states the Stocks that they say were manipulated. I don't recognize any of them.
Posted by IWISHIHAD on :
The big question is what does the SEC. really do to these indivuals i haven't heard of anything much, tell me i am wrong. It seems that the only ones that get hurt our the investors, if they are going to start this type of action and control this problem, something needs to change in the penalties not just slap their hands. Otherwise we put on more Gov. workers to do the same thing. Just my opinion.
Posted by Dustoff101 on :
quote:Originally posted by racjis: If you click through the links at the bottoms of the pages at the SEC site discussing this, you can get to the actual complaint filed by the SEC which states the Stocks that they say were manipulated. I don't recognize any of them.
------------------------------------------------- Do actually think they are done?
Geezz man, they are just getting warmed up!
Posted by Dustoff101 on :
quote:Originally posted by IWISHIHAD: The big question is what does the SEC. really do to these indivuals i haven't heard of anything much, tell me i am wrong. It seems that the only ones that get hurt our the investors, if they are going to start this type of action and control this problem, something needs to change in the penalties not just slap their hands. Otherwise we put on more Gov. workers to do the same thing. Just my opinion.
------------------------------------------------- I am sounding out loud and clear!
Buisness as usual is OVER!
People are going to Prison, period.
Posted by BuyTex on :
quote:Originally posted by dacollecter:
quote:Originally posted by madmoney: dustoff101: you are so right, lots of pumpers on these threads pushing BS stocks, sometimes i call them on it when my DD exsposes the bullsh!t, they usualy gang up on me as a basher! LOL! DD is the best way to guard yourself against a P and D scam. pumps usualy run but they ALWAYS fall leaving uninformed bag holders in thier wake! get in on the set up ( pump ) and sell on the spike never hold out for sky high gains pumpers promiss are coming! play them ( pumpers ) dont let them play you !
what if it wasn't a pump and you bashed. The stock company can sue. be careful.
lol, what are you talking about?
Posted by Repoman75 on :
Bash? Depends what you mean by bash.
If you mean posting false information, then yes, you are liable legally and can be held liable for financial damages.
If you say (as I do often), "stock XYZ stinks" or "I wouldn't buy this with YOUR money", then no, I have a right to my opinion.
Posted by dacollecter on :
quote:Originally posted by Repoman75: Bash? Depends what you mean by bash.
If you mean posting false information, then yes, you are liable legally and can be held liable for financial damages.
thats what i'm refering to. For example,people got screwed really bad on STTK.
Posted by Dustoff101 on :
I am sure the FBI SEC monitors these boards...
It will be very interesting to see who comes to the defense of the Pro Pumpers.
Pro Bashers are actually the easiest to bust..
Posted by IWISHIHAD on :
Dustoff,
I sure hope so but skeptical, i don't want them to increase the size of the SEC. again just to do the same thing. If the penalty increases that alone will stop a lot of this.
Posted by johnny14511 on :
lol
you guys "get all into this conversation"
lol if i was you ill be worrying on making YOUR next SUCCESFULL trade"
you guys are acting like if the world is going to end.....PLEASE....
you think youre the SEC...hehe or the FBI hehe
lol
Posted by smalltime on :
Here's a list of the stocks. obci hctl wmsi fstw olab pptv lucy chle poci ctib dwmac kent trni sgrp
Posted by Peaser01 on :
Nice to see them stepping in.
As Dustoff mentioned, I believe the protection for us shareholders is just beginning.
Go SEC, FBI!!
Posted by Dustoff101 on :
quote:Originally posted by johnny14511: lol
you guys "get all into this conversation"
lol if i was you ill be worrying on making YOUR next SUCCESFULL trade"
you guys are acting like if the world is going to end.....PLEASE....
you think youre the SEC...hehe or the FBI hehe
lol
------------------------------------------------- Very interesting?
Do you condone cheating and leaving the not so swift as bagholders on these pump and dump stocks?
Don't tell me about trading, I have posted between 12-20 100% - 400% gainers which are Nasdaq, Amex stocks.
These stocks still hold their gains months after being posted.
Posted by buckstalker on :
johnny...two words for you...GROW UP!!!
quote:Originally posted by johnny14511: lol
you guys "get all into this conversation"
lol if i was you ill be worrying on making YOUR next SUCCESFULL trade"
you guys are acting like if the world is going to end.....PLEASE....
you think youre the SEC...hehe or the FBI hehe
lol
Posted by Repoman75 on :
Why aren't these stocks listed? Pure scams.
NCDP MLON PYCT SMMW PRRM CMKX
Posted by Dustoff101 on :
quote:Originally posted by Dustoff101:
quote:Originally posted by johnny14511: lol
you guys "get all into this conversation"
lol if i was you ill be worrying on making YOUR next SUCCESFULL trade"
you guys are acting like if the world is going to end.....PLEASE....
you think youre the SEC...hehe or the FBI hehe
lol
------------------------------------------------- Very interesting?
Do you condone cheating and leaving the not so swift as bagholders on these pump and dump stocks?
Don't tell me about trading, I have posted between 12-20 100% - 400% gainers which are Nasdaq, Amex stocks.
These stocks still hold their gains months after being posted.
----------------------------------------------- The point is people do not have to play the garbage...........
Why even bother with the things when most people just become bagholders..
Maybe in time the playing field will be fair to the very, very few Pinks/Greys OTCBB'S that truly do have a future, for the the investor.
Posted by johnny14511 on :
quote:Originally posted by Dustoff101: Very interesting?
Do you condone cheating and leaving the not so swift as bagholders on these pump and dump stocks?
Don't tell me about trading, I have posted between 12-20 100% - 400% gainers which are Nasdaq, Amex stocks.
These stocks still hold their gains months after being posted.
lol i am just saying you take this to the heart
lol be easy
let the SEC and the FBI do their job
we dont have to get exited about it
Posted by BuyTex on :
quote:lol i am just saying you take this to the heart
lol be easy
let the SEC and the FBI do their job
we dont have to get exited about it
lol, yes we do
lol, no
lol, we do--and help them by reporting things that need reporting, lol
lol, nobody exited--lol, we're still here, lol
Posted by Dustoff101 on :
Johnny, you just keep digging yourself in deeper and deeper...
You are at risk of losing any credibilty you may think you have.
I do not trust your attitude, disturbing at best.
Posted by johnny14511 on :
hey its JMO
i dont think i have credibility and really dont want none waht good does it make me to have it..?
sorry if anyone got affended ....but hey its JMO
Posted by buckstalker on :
1. You don't 2. None
quote:Originally posted by johnny14511: i dont think i have credibility and really dont want none waht good does it make me to have it..?
Posted by BuyTex on :
quote:Originally posted by johnny14511: hey its JMO
i dont think i have credibility and really dont want none waht good does it make me to have it..?
sorry if anyone got affended ....but hey its JMO
credibility more important here than at some other boards you may be accustomed to...
Posted by Peaser01 on :
quote:Originally posted by BuyTex:
quote:lol i am just saying you take this to the heart
lol be easy
let the SEC and the FBI do their job
we dont have to get exited about it
lol, yes we do
lol, no
lol, we do--and help them by reporting things that need reporting, lol
lol, nobody exited--lol, we're still here, lol
Exactly
Posted by Dustoff101 on :
Hey, I got an E-Mail telling me to hurry and buy the stock! LMAO
""""" OLAB """"""
Posted by BuyTex on :
Is it from Faisal or Sameer? Posted by Dustoff101 on :
Edit.....
Posted by jordanreed on :
I'm really exited!!
Posted by buckstalker on :
Yea...I'm pretty exited myself
Posted by binnocent on :
Hopefully they really will start coming down on these crooks. But we have had crooks in the stock market as long as there has been a market. They just have gotten a quicker larger scale means of taking people across...ie (internet).
I first got into trading some 25 years ago through a brokerage called First Jersey Securities...was taken across for over $20,000. The CEO was arrested found guilty and fined.....but some 25 years later the proceeds from the court action still have not been dispersed to the people ripped off. Was told 2 years ago it should be soon. Not going to get what I lost but still hoping to get a check in the mail.(lol)
GLTA,
Bob
Posted by BuyTex on :
jordan, buck...lol, you two...
Bob, what gets me is the SEC seems to function as slowly as it did "back in the day." They need to come to grips with how the 'Net has opened up trading to so many more peeps, nowadays. That would mean burning some of these PnD CEOS and shady broker/dealers, too. If they're not gonna shut down OTCBB and Pinks, then enforce the rules already...
Posted by Dustoff101 on :
quote:Originally posted by buckstalker: Yea...I'm pretty exited myself
--------------------------------------------- Me too! I done got exited by some character with a Diamond mine on Skii's....
Told me that dem dar Diamonds was a plugging up the drill hole!!!!
The drilling bits kept a hiting sumpin so dern hard that they just flew to pieces.....
We had some of dem dar "ALERTS" from demdar honest posters a telling us to BUY BUY HOD NEXT WEEK IS GOING UP TO THE STRATELITE!!!!!
Why we even had dem wirlybirds and aireoplanes a flying around a spotting dem pipes a full of Diamonds!
I even got some divedent free shares!
Sumpin happened tho............Can't sell CHIT!
Posted by imakmony2005 on :
Hey i own some of those diamonds.lol
Posted by Dustoff101 on :
quote:Originally posted by imakmony2005: Hey i own some of those diamonds.lol
-------------------------------------------------
Ah, thats nuttin..Just wait till they find a cure for Bird Flu when they is a drilling away fer dem dar Diamonds...
Maybe one of um has Radio Active bird poop from the age of the dinasours....Chit is worth more than them thar tons of diamonds..Ya thats the ticket, you betcha!!
Posted by MoneyMoneyMoney on :
quote:Originally posted by Peaser01: Nice to see them stepping in.
As Dustoff mentioned, I believe the protection for us shareholders is just beginning.
Go SEC, FBI!!
I love the sound of that. Send them all to jail and let em serve the consequeces of their actions.
Protect the traders and investors.
Posted by Dustoff101 on :
Money, it looks like this time the authorities are on the ball..
We need a place like Allstocks to find and discuss stocks.. If we just keep hammering away on the Con Men we all benefit in the long haul..
I wish I would of had some hard input on many of the Nasdaq stocks I found through-out the year...
Most of them I squandered away by not holding..
I am an amateur...
I found a couple dozen Nasdaq Amex stocks that are still holding 70-500% gains..
I played them like pennystocks! Damn what a fool I was!
Sooooooo! in the the future I would really appreciate a good swift kick in the A$$ if I stumble accross more good long term stocks, and just throw them away!...
If I would of held on to the good ones I would be up 100's of thousands of dollars!!
Thats the problem with trading the Pinks/Greys and OTCBB'S a person just becomes to damn cynical.
Posted by IWISHIHAD on :
How many times in the last 5 years did the SEC. suspend trading on a penny stock? How many times has someone went to jail or prison for it? I still think we are dreaming if we think they are going to do much cracking down. Like what was already said if they dig very deep to stop this, they are going to have to go way beyond the stock market.
Posted by Dustoff101 on :
IWISHIHAD,,,,Tip of the Ice Berg..........
Maybe Spitzer will keep the heat on and get some solid convictions.
Looks like his bid for a run for the Governorship of New York is on track..
Who knows, maybe he thinks he can swing some votes his way by kicking butt!
Posted by will on :
Dustoff wrote:
"I have been warning people for months about this mess in the Pinks/Greys and OTCBB'S...
You people had better take a hard look at many of the so-called Hero posters around here..
I firmly believe many posters are " dirty " as hell....Many probably move in and out of here by simply changing their IP..."
You paint with a pretty wide brush, my friend.
Posted by Dustoff101 on :
Will, it's a very large canvas.
Posted by BuyTex on :
quote:Originally posted by IWISHIHAD: How many times in the last 5 years did the SEC. suspend trading on a penny stock? How many times has someone went to jail or prison for it? I still think we are dreaming if we think they are going to do much cracking down. Like what was already said if they dig very deep to stop this, they are going to have to go way beyond the stock market.
Here's the deal...SEC basically a 19th-century mind-set that recalibrated--at virtual gunpoint--following the Crash of 29. Still the major laws trace to '34, I believe. Point? Online trading has so overwhelmed them that they don't even pretend to force companies and broker/dealers to play by the rules. Hell, half my geek plays get shut down, lol, because they suspend 'em before the steak hits the griddle. Look at KGOC just yesterday or so... and another one partly based on a pr guy (if I remember correctly) contacting people on message boards! (PAIM folk need to know about that one...)
add GVRP, BCIT, GLCKE, etc etc... SEC so overwhelmed __all__ they can do is stomp PInkie-roaches and sweep carcasses under rugs. LOL, Pinkie-rug getting lumpy...
Why? They got serious, serious money--mob, etc--deeply insinuated in the system, siphoning siphoning siphoning capital outta the country's economic channels. Hence, some of the cases we're seeing lately... it *is* being ramped up...
But, where you I disagree, they need way more manpower. To me, this is a crisis that must be addressed.
Posted by BuyTex on :
quote:Originally posted by Dustoff101: Will, it's a very large canvas.
easy boys, both good guys Posted by Dustoff101 on :
quote:Originally posted by BuyTex:
quote:Originally posted by Dustoff101: Will, it's a very large canvas.
easy boys, both good guys
-------------------------------------------------
Shy-st! and I was just getting ready to put the popcorn on! LOL
Posted by Dustoff101 on :
Got CMKX? when is anybody going to jail?
What a saga....
Posted by Dustoff101 on :
I cannot believe this thread is not lit up like a Xmas Tree at the Drag races..
Where is all the newbee's? Why are they not here asking questions?
Posted by Dustoff101 on :
We need more heavy weights here helping Tex tow the load...
Where's the Glassman? Glass, you should be here tearing into this thing!
Many of the old CMKX crowd should be here! Man alive, talk about Knowledgable and capable Heavy weights!
Posted by Dustoff101 on :
Will, lets put the little dustup aside...
Many would appreciate a thorough analysis from you.
I will take the position as an antagonist...
This subject is far to crucial to be just dismissed and swept under the table..
I see a great good coming out of this situation for traders, posters and Allstocks.
Lets move on to the next level and make Allstocks a dynamo of honest and well laid out information..
What do we have to lose? Lets get it on, , , and turn up the power of the truly good posters!
Posted by 7 of 9 on :
SEC does not care about the OTC
They want it to go away.
Posted by BuyTex on :
quote:Originally posted by 7 of 9: SEC does not care about the OTC
They want it to go away.
7 has a good point...
goes back to my post with IWISH...
if they fail to enforce the rules (ex-dates, buy-ins, etc) often enough, they *will* discourage peeps from playing pennies...
what I think? they also send a signal they don't care about market integrity...
Which also sends a signal: You online pukes shouldn't be trading...
make sense?
Posted by will on :
Well Dusty, I would like to debate you regarding this issue, but I am afraid we are on the same side of the arguement. I have suspicians and doubts about some participants on not just this BB, but others too. I just choose to not paint every poster that picks consistant gainers as "dirty as hell". I choose to be a bit more selective, and have learned to stay away from them. matter of fact, I have disciplined myself to trust my judgement and not paly ANYONE'S picks but my own, and sometime I don't even trust my judgement.
quote:Originally posted by Dustoff101: Will, lets put the little dustup aside...
Many would appreciate a thorough analysis from you.
I will take the position as an antagonist...
This subject is far to crucial to be just dismissed and swept under the table..
I see a great good coming out of this situation for traders, posters and Allstocks.
Lets move on to the next level and make Allstocks a dynamo of honest and well laid out information..
What do we have to lose? Lets get it on, , , and turn up the power of the truly good posters!
Posted by IWISHIHAD on :
Buy Tex,
We do disagree on the point of the Sec. needing more manpower. The problem with so many agencies like the Sec. is they always need more manpower. My experiences with the SEC. have not been that good to almost the point of being a joke and i am sure there are some really good people that work there, but i feel they need "Better" manpower, then maybe more. If they were serious about helping investors and cleaning up stocks then they would prosecute to the full extent of the law and we know from prior investigations they spent a lot of time and money to gather the facts and depose these individuals and they appeared to do nothing but slap their hands. My thought is that this might have been done for another reason.
Posted by Peaser01 on :
The fact remains, none of us knows exactly how many folks that the SEC has working on cleaning up the penny markets.
Who here has inside info from the SEC?
I believe that they have more people building cases on fraudsters than we may think. As Tex mentioned, the investigations do take years to build substantial hard evidence against these criminals.
I have to question why WTC Building #7 was brought down. This building contained decades of SEC documents on the stock market.
Good to see you posting on this issue...You've been a consistant defender of the underdog in watching out for scams...You've certainly done your part in helping keep this site as clean as possible...There are others posting on this thread who have done the same...Very time consuming and not an easy task...
Some of these guys who appear here to prey on new investors are real slick cons...It's good to see they're getting measured for stripes... Federal prison is no picnic...
I've been a member here on AS for a long time. I swing trade as a rule and have held long on only two stocks over the past two years. I've had my gains and losses but am still hanging in.
My philosophy has always been when a crook shows his arse here to go after him fast and furious and don't let up until their agenda is exposed. Once that happens report them to Bob and let AS sort out who and why they are here.
Bob Frey and AS does a better job than any other site in terms of cleaning house IMO. For all of you who have tried to keep AS a site that works well for traders and newbies you have my thanks as well as many others I'm sure...Keep flushing out the felons and I sure hope they clean this mess up in the future...GLTA
quote:Originally posted by BuyTex:
quote:Originally posted by Dustoff101: Will, it's a very large canvas.
easy boys, both good guys
Posted by devilindetail on :
quote:Originally posted by Peaser01: The fact remains, none of us knows exactly how many folks that the SEC has working on cleaning up the penny markets.
Who here has inside info from the SEC?
I believe that they have more people building cases on fraudsters than we may think. As Tex mentioned, the investigations do take years to build substantial hard evidence against these criminals.
I have to question why WTC Building #7 was brought down. This building contained decades of SEC documents on the stock market.
best of luck to all beacuse we are going to need it!
Posted by devilindetail on :
watch that video PLEASE
a review:
"This is the best damn 9-11 documentary out there." -Dave vonKleist, Producer of "911:In Plane Site" Loose Change is an ... all » extremely hard hitting, heavily referenced documentary. It has the best footage that I have seen to date, of all the bombs and explosions going off at the World Trade Center. He covers each individual aspect of 9/11 in keen detail, and after watching 'Loose Change' it is almost impossible to walk away and not believe that 9/11 was engineered, not by Osama, but by our own Government.
Heres a quote from Tom Flocco regarding Dylan Avery's brand new 911 documentary;
"...The best packaged DVD footage for sharing actual TV coverage & interviews shown only once during WTC / Pentagon attacks--evidence strangely removed from repeat broadcasts ...striking visual and narrative analysis--shown frame by frame--pointing to government-linked mass murder and a new Pearl Harbor ...every school class should see !
"Loose Change 2nd Edition" is the follow-up to the most provocative 9-11 documentary on the market today.
This film shows direct connection between the attacks of September 11, 2001 and the United States government.
Evidence is derived from news footage, scientific fact, and most important, Americans who suffered through that tragic day.
IT IS THE DUTY OF EVERY AMERICAN TO VIEW THIS FILM!
a informed american is a DANGEROUS american.
Posted by ed19363 on :
Next they gotta get rid of that "grandfather clause", and start digging into some of the companies that are no longer around. Like CMKI/M/X, CIM, whatever. There is a prison guard out there who belongs on the other side of the bars, IMO.
Posted by BuyTex on :
quote:Originally posted by IWISHIHAD: Buy Tex,
We do disagree on the point of the Sec. needing more manpower. The problem with so many agencies like the Sec. is they always need more manpower. My experiences with the SEC. have not been that good to almost the point of being a joke and i am sure there are some really good people that work there, but i feel they need "Better" manpower, then maybe more. If they were serious about helping investors and cleaning up stocks then they would prosecute to the full extent of the law and we know from prior investigations they spent a lot of time and money to gather the facts and depose these individuals and they appeared to do nothing but slap their hands. My thought is that this might have been done for another reason.
I know one they could lose: Mr. Cox Posted by BuyTex on :
But here's the bottom line--they need more prosecutions, quicker prosecutions, and more rapid response to these fouled-up split plays...they're not "protecting investors" by letting the GVRPs and KGOCs go forward only to be suspended a day or two later. I hope some of these recent cases are a sign that prosecutions are ratcheting up; I also hope the Pinks' new "tiered system" will help clean up the pinks and reward/encourage truthful companies.
Posted by Peaser01 on :
I absolutely agree 100%.
Posted by TruthLiesWithin on :
Before I watch it, your name isn't Charlie Sheen right?
Posted by invester on :
If anything, interesting. They start to get alittle Conspiricy theory. How can you explain where the people from flight 77, and 93 are?What about the families? What about friends? That would be the biggest cover up ever. I would think someone would talk. I agree with the secondary explosions in the towers. You have hundreds of eye witnesses confirming the fact. These are firefighters, and honerable people. I agree there is a coverup, but to what extent I am not surel. I'm not ready to say my government played a lead role in september 11th. There would be more press about these coverups. This wouldn't have just gone away like it did. Decent film though.
Posted by invester on :
Thoughts????
Posted by TruthLiesWithin on :
Interesting, it's amazing how one can put together such theories...
On another note,,my mother used to work in the WTC years ago,,,,,and she told me about workers who were inside the walls banging and welding and making all sorts of noise.......although no one really saw them.
I beleive the reason behind that was the use of bad steel during the construction, and they didn't want to tell anyone, so they fixed it while everyone else was at work oblivious...
Posted by Sunnyside on :
quote:Originally posted by invester: If anything, interesting. They start to get alittle Conspiricy theory. How can you explain where the people from flight 77, and 93 are?What about the families? What about friends? That would be the biggest cover up ever. I would think someone would talk. I agree with the secondary explosions in the towers. You have hundreds of eye witnesses confirming the fact. These are firefighters, and honerable people. I agree there is a coverup, but to what extent I am not surel. I'm not ready to say my government played a lead role in september 11th. There would be more press about these coverups. This wouldn't have just gone away like it did. Decent film though.
Very interesting conspiracy theory. Would I be surprised at what the government could and would do? No. But, as you mentioned, where did all the passengers go, besides a few other relevant questions?
43 years later, we still don't know who assassinated JFK. Just a matter of which conspiracy theory you believe. Or, if you just believe the whatever the press and government feed us.
Posted by Dustoff101 on :
Well, a huge Red Herring screwed this topic up.
Posted by Dustoff101 on :
It is going to be very interesting in the coming weeks to see what kind of Pumper langauge is going to used...And just for kicks, watch how the pumpers try to spin and squirm outa the traps that are already in place to " Bust um "...
Unsubstantial claims of great riches being achieved by buying the " Pie in the Sky " stocks, will not go by without notice..
I have a feeling these posters will be closely monitored by the FBI and SEC..
Posted by MoneyMoneyMoney on :
Tis is why I'm glad I always suggest taking your capital out plus a little extra to continue playing the game.
Always do your own DD!!
Posted by Dustoff101 on :
OK, I have done my part to atleast open some eyes.
It's the responsibility of the Old Timers and all New Traders around here to try and spot the scamsters..
I know many of you hate to see me questioning some posters and the stocks that appear to be pump and dumps..
Geezz, I have been infuriated myself when it is done to a stock I am holding..
But my long term goal around here is to see the developement of the true talent which inhabits Allstocks.
I will support to the max those who truly find and post good Pinks/Greys and OTCBB'S.
I think we are going to see the passing of an era, the Wild Wild West of trading these pump and dump schemes may be closing, not with a Bang! but with a whimper.
Posted by CareyRay on :
You guys seem to not understand what the crime here is. Its not because a person "frontloaded" a stock! It's not because they made 100k+ in profit. It's because they posted misinformation about the company. Meaning they create their own PR's. If you also look at the case VS Tokoy Joe and ***** those people all posted information which was not released by the company and that inturn caused people to buy into the stock.
SEC, FBI, CIA, KGB, can not regulate what we say on the net. As long as we play by the rules and do not create our own PR. We will not be going to jail. Pump and dump will always be around. Why? Because someone will always buy a stock. Try to create expouser (Pump) and take profits once they would like to cash out (Dump).
Posted by BuyTex on :
lol, PnD scammerz don't post misinformation?
Posted by CareyRay on :
Which misinformation have you seen them post? Maybe besides this stock is going to 1.00! You have never seen a real pump and dump on this website! Have you seen anyone post a fake PR? That's what will cause you to be fined by the SEC! Not buying 400 dollars worth and pumping it on the boards for you to get out!
Posted by BuyTex on :
lol...
OK, I'll bite...what's a "real" pump-n-dump?
Posted by Dustoff101 on :
quote:Originally posted by CareyRay: Which misinformation have you seen them post? Maybe besides this stock is going to 1.00! You have never seen a real pump and dump on this website! Have you seen anyone post a fake PR? That's what will cause you to be fined by the SEC! Not buying 400 dollars worth and pumping it on the boards for you to get out!
------------------------------------------------ Interesting that you zero in on one dollar.
Reading between the lines of your posts I am begining to see a pattern where you seem to condone and support less than honesty in posting..
With all your great knowledge of Allstocks why do you choose this as a time to show up?
Posted by Dustoff101 on :
I'm hitting the sack! OUTA HERE.
Posted by MoneyMoneyMoney on :
quote:Originally posted by CareyRay: Which misinformation have you seen them post? Maybe besides this stock is going to 1.00! You have never seen a real pump and dump on this website! Have you seen anyone post a fake PR? That's what will cause you to be fined by the SEC! Not buying 400 dollars worth and pumping it on the boards for you to get out!
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