Stock scams have been around since, well, probably about five minutes after the invention of stocks. Over the years, their variety has been limited only by the collective ingenuity of the scammers.
The Internet has made a variation of the pump-and-dump even easier. Most stocks now have a “message board,” on which those who follow the company can post news, opinions, and general information. Scammers looking to make a quick profit have been known to use these boards to post messages touting the company’s prospects, often posing as a corporate officer or other insider. Some may post to the board under a number of different aliases, each more enthusiastic than the last. Again the idea is to engineer a rapid rise in share price, so that the scammer can then cash out. (It happens the other way, too. Scam artists can sell a stock short, then post negative “news” on a board, hoping to drive down the price.)