SEC charges stock-tip Web site operator with fraud
By Robert Schroeder 8/1/2006 04:29:25 PM
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.thes+ocks+er.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.
skip
posted
brilliant!
Igor R
posted
Now if they would do that with NITE, so he can stop ****ing with CKYS, that would be nice.
Hannibull
posted
hell yeah! look at what happened with MUME after he pumped it yesterday saying it would go over a dollar... down 23.8% today and down 50% from yesterday's HOD Such criminals belong in jail
Magic
posted
YESSS!!!!!!!!! Basstarrds. They've cost us all a lot.
Lootcifer
posted
NITE you're next. Watch your back Biitch!!!! You have a lot of enemies out here. Karma is a bittch azzwipe.
posted
What can they go to jail for? If they pump a stock and then sell all their shares, even if they caused a drop in price then are they really doing anything illegal? What if I owned 50% of a company and tried to sell it all at once. Would I go to jail for causing such a drop in price?
They pumped picks yes, but they had disclosures about people needing to make their own decisions and such. I don't like stock t r either but legally what can prosecution say? Matt
Machiavelli
posted
that at the same time they were pumping the stocks they should of disclosed that they were going to sell their own shares... Pumping a stock to dump your shares at the cost of investors is illegal... pumping a stock to keep your own stock for long term is not...
beechwood
posted
He did it again today. Pumping NCSH at 2:13 pm EST. well after the run was over and on it's way south. Check out the intraday chart. Unfortunately volume during that hour show many newbies falling prey to his con. What gets me is why the SEC hasn't shut him down and how he's still posting, pumping & dumping? Mr.Czjfdzx should be in jail. What's his site still doing up?
posted ![[Big Grin]](biggrin.gif)