We all have our freedom, RMS. So you like to gamble, super. No reason to encourage others to gamble with you. Just say your schtick, it’s all good. But trying to sell it by underhanded means? That’s truly manipulating the stock.
Fraudsters who conduct stock promotions are often paid promoters or company insiders who stand to gain by selling their shares and pumping up the stock price. The promoters or insiders make profits for themselves while creating losses for unsuspecting investors.
The SEC states they have brought charges against promoters for not disclosing the compensation they were receiving for promoting a stock. In SEC v. Smith, the SEC alleged that the defendants fraudulently promoted a data storage company through emails, online blogs, articles, and other media, without fully disclosing their compensation or that they would be paid more if they increased the company’s share price. According to the SEC’s complaint, the defendants made false and misleading statements to try to increase the trading volume and share price of the company’s stock.
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