In the matter of Revenge Designs, Steve was caught selling restricted stock and had to disgorge, pay a fine, and some interest, and not engage in penny stock schemes for a number of years.
Through participation on the DD board I have learned that recidivism is common among penny stock scammers.
Wy? The money is easy, and it can amount to a lot of easy money.
I've also learned that the scammers seem to know each other, or at least know of each other.
The Nasdaq's third tier, the AMEX can be just as bad, and last but not least, the OTC, it seems, are financial venues that reward failure.