the reason I said they are comparable is based on what you said about going deeper into the hole. People who borrow from paycheck lenders can't pay back the loan in time so they borrow even more.
So I'm thinking these penny stock scammers locate a struggling business. They convince the owner or owners they can build their business by "going public."
That's just one of several strategies.
The bottom line is the scammers intend and do succeed in siphoning hundreds of thousands to millions.
And, as you have noted, the owners of these struggling businesses sometimes decide that this sure beats working and wind up as willing participants in stock selling schemes.
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