SEC Suspending Trades On Spam Scam Stocks
from the about-time dept
Pump and dump spam scams have been quite successful for scammers, but the SEC is apparently increasingly successful in stopping the practice. It’s now suspending trading on certain stocks that appear susceptible to pump and dump scams — and that’s more than cut in half the number of complaints its received in the last few months. What still isn’t clear, however, is why it’s so difficult to track down those responsible for pump and dump scams. You just need to follow the money and look at who bought the stock right before the scam started and who sold out immediately afterwards and you probably have a pretty short list of suspects.