Operation Spamalot - SEC takes action against Stock spammers 1993

  • Probably, most of us have received those annoying stock spam advertising messages that tell us to hurry up and buy them up, so you can make a 10-fold return on your investment. The SEC has taken recent action in suspending trading for 35 companies (most likely those who were actually participating directly in these schemes). The practice hasn’t ended as I personally recieved more of these today, but this type of action might reduce the overall volume of these types of messages.
    Please add www and paste to browser
    The Securities and Exchange Commission (SEC) announced in a press release on March 8 that it has suspended trading in securities of 35 pink sheet companies that have been the subject of recent stock spam campaigns. Stock spam has increased in volume in recent times and now represents a significant percentage of what we see each day. In 2006 alone we saw more than 300 different stocks being spammed.

  • More info and links on ‘how to report Stock Spam emails … Personally, I’ve seen some reductions in this and perhaps the SEC program is making a difference 🙂
    ‘Pump and Dump’ reporting to SEC
    Please paste to browser, no www needed
    Due to the global nature of this spam one needs to have a list of which address to report to. Example of USA below
    USA Forward the spam to: enforcement (at) sec (dot) gov … You get a standardized reply for every report, typically during the next business day
    What are Pump and Dump schemes
    Please paste to browser and add www
    Pump and dump’ schemes, also known as ‘hype and dump manipulation,’ involve the touting of a company’s stock (typically microcap companies) through false and misleading statements to the marketplace. After pumping the stock, fraudsters make huge profits by selling their cheap stock into the market .

Log in to reply