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Crazy Money

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Crazy Money

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Tuesday, 08/01/2006 5:04:05 PM

Tuesday, August 01, 2006 5:04:05 PM

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STOCKSTER IS DONE

SEC charges stock-tip Web site operator with fraud

By Robert Schroeder
8/1/2006 04:29:25 PM

WASHINGTON (MarketWatch) -- Securities regulators charged a California man with fraud on Tuesday, alleging he made more than $2.7 million in illegal profits by secretly selling stocks he recommended on his Web site. The SEC said Nicholas Czuczko of Beverly Hills, Calif., touted penny stocks on www.thestockster.com even as he planned to sell them. He didn't disclose his sales on the site after visitors to the site drove up the price of the shares, the SEC said. Regulators are seeking a return of ill-gotten gains and civil monetary penalties.

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