Maybe... Though Monk and the approach he took was very different from that taken by most penny scammers. He didn't go after what might seem the logical audience: young guys who wanted to daytrade. Instead, he attracted men and women, often couples. Often older people who saw in him a shot at adding a few cool millions to their retirement accounts.
He was, I'm told, unfailingly polite. Fun at the Monkinars, but a serious person. It was a screaming success. Many attendees signed up for more than one seminar. A few did the advanced ones, and some who were already rich popped for the private lessons, in which Monk visited their homes for a few days.
What did he teach? Basic charting. Very basic stuff. He wasn't breaking any laws with that. His problem was that he lied, telling his clients he'd never sold a share of any of his "core" stocks; the ones they were supposed to hold and hold and hold till the float was locked and Shorty was squeezed and they became rich rich rich! And of course it was also problematic that he got as involved as he did with Jonathan Bryant of EIGH, and engaged in active promotion while denying he was doing so...
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