Re: [Not entirely OT] Email from today.

Peter Moylan <peter@xxxxxxxxxxxxxxxxxxxxxx> had it:

Robert Bannister wrote:

I've had three of those in the last few days, but most of the spam
that's still getting through is advising me to invest in various
companies that I've never heard of.

Spammers are notoriously hard to catch, but I'm surprised that the power
of the money managers hasn't been thrown at this particular scam. The
way it works is that the person running the scam buys up shares in a
company whose share price is low, and then sends out millions of e-mails
recommending a "buy". Within about a day the price goes up, and the
original person unloads at a very nice profit.

As I recall it, the originator of this idea was identified fairly early
on, but I never heard anything about a fraud conviction. It would be
interesting to know whether it's the same person still running the same
scam, or whether it spawned lots of imitators the way the Nigerian scam did.

A pair of UK financial journalists were recently convicted of
something similar - they were tipping shares which they held
themselves. Of course, any tip in a national newspaper meant that
the shares went up.

Ah yes,
http://news.bbc.co.uk/1/hi/uk/4507448.stm

--
David
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Relevant Pages

  • Re: Email from today.
    ... of the money managers hasn't been thrown at this particular scam. ... that shares in Evenbreak Mining are due to go through the roof is, ... blindingly stupid, or blindingly rich, or both. ... enough to pay for the ad and the airtime, ...
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  • Re: [Not entirely OT] Email from today.
    ... of the money managers hasn't been thrown at this particular scam. ... the originator of this idea was identified fairly early ... or whether it spawned lots of imitators the way the Nigerian scam did. ... Please note the changed e-mail and web addresses. ...
    (alt.usage.english)