it was a new release from 5.3.05 RE MAUG ... when i saw this i didn't bother looking any further cuz i thought it was why you'd posted it ... (url at the bottom)
SEC sues telemarketers for stock tips One settles, charges pending against two others By Robert Schroeder, MarketWatch Last Update: 12:19 PM ET May 3, 2005
WASHINGTON (MarketWatch) - A Georgia-based telemarketer and his companies settled federal charges in a "pump and dump" stock tip scam, the Securities and Exchange Commission announced Tuesday.
Michael O'Grady agreed to pay back $50,786 in ill-gotten gains and a $25,000 penalty for participating in the scheme, which involved voice mail messages to thousands of U.S. residents touting at least six microcap stocks.
Several of the messages were left by a woman who called herself "Debbie" and acted as if she misdialed when calling a friend to leave a stock tip.
Among the stocks touted were Maui General Store, Inc. (MAUG: news, chart, profile) , Innovative Food Holdings, Inc. Triton American Energy Corp. and Yap International, Inc.
The SEC said the scheme drove up the price of those stocks by a combined $179 million in 26 days.
O'Grady is also facing a likely prison sentence of 10 to 16 months and a $250,000 fine stemming from separately filed criminal charges.
The SEC is also charging David Whittemore of Dallas, Texas and Whittemore Management, Inc. with broadcasting similar fraudulent "wrong number" voicemail messages in an effort to lure consumers into buying stock. Peter Cahill of Houston, Texas and Clearlake Venture Group, which he controls, are also charged in the same complaint.
"It looks like the second scheme is a copycat of the first scheme," Peter Bresnan, the SEC's associate director of enforcement, told reporters Tuesday.
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