"The agency charged a Canadian couple, Carol McKeown and Daniel F. Ryan,with four counts of fraud for using their Penny Stock Chaser Web site and Facebook and Twitter feedsto promote a half-dozen companies’ stocks.What the two did not disclose to their followers, according to the complaint, filed in federal court in southern Florida,is that they were regularly selling shares in the companies they were hawking, a practice known as “scalping.”"
"According to the S.E.C.’s complaint, Ms. McKeown and Mr. Ryan began Penny Stock Chaser in the spring of 2009, promoting themselves as a husband-and-wife team that led a group of skilled stock pickers. Over the past year, their firm touted the stocks of at least 65 American companies. (The S.E.C. is pursuing the case in Florida because many of the couple’s trades were made in Boca Raton, although they were based in Montreal.)"