Pump-And-Dump Stock Spammers Made $20 Million
from the nice-work-if-you-can-get-it dept
Well, we already knew that pump-and-dump stock spam scams worked for the spammers, but we weren’t aware of just how well they worked. Apparently a group of pump-and-dump spammers made out to the tune of $20 million before they were caught. Of course, unlike in some cases, these scammers involved the executives of the companies they were hyping up — though, it’s unclear to what extent those executives understood what the scammers were planning to do.