It is easy to see that the rake was huge. It probably hit about 2000 to 3000 active microcap players and the result is that the dollar volume in the microcap market is dead right now.
Stocks which once received decent daily action are all but in a slumber. This has not just resulted in a loss of money but in a loss of confidence. Stocks like this scam are the reason why anyone who gives a flip about our capital system should be diligent in exposing con men.
The amount of money lost here could have funded 150 legitimate companies for a year or more. This is a total scandal. The perps should pay.
I think it will be categorized differently. Anyone know what you would call a white collared crime perpetrated by a couple of blue collared semi literate thieves?