jon_e_og you do realize that Our-Street has been attacking PWRM and PWRM is connected to some boiler room pumping it through answering machine messages. The SEC took notice.
From Art's board:
Posted by: Art2Gecko
In reply to: None Date:8/19/2004 11:37:14 AM
Post #of 7678
SEC sounds alarm on "breezy, intimate" stock touts
WASHINGTON, Aug 19 (Reuters) - Beware if you've gotten a
"breezy, intimate" voice mail message from a female caller with
a hot stock tip who sounds like she's dialed the wrong number.
U.S. securities regulators said on Thursday it's the latest
"pump and dump" stock scam and it's sweeping the country.
The Securities and Exchange Commission said it has received
hundreds of complaints from investors nationwide about what it
described as "answering machine wrong-number stock touts."
Voice mail messages are being left on answering machines
coast-to-coast by female callers who sound like they believe
they're talking to a girlfriend, the SEC said.
In the messages, the caller seems to confide "inside
information she has learned from 'that hot stock exchange guy
I'm dating,'" said the federal agency in a statement.
But regulators believe the voice mails are part of a "pump
and dump" stock scam in which the callers try to get the voice
mail recipients to buy the stock mentioned. That drives up the
price of the stock. Then the scammers can sell the shares
quickly at a profit, leaving the unwitting victims with
losses.
Stock prices of companies mentioned in the calls have gone
up, said SEC Investor Education Director Susan Wyderko.
"But in all 'pump and dump' schemes, as soon as the
promoter stops touting a stock, the price plummets and other
investors lose their money," Wyderko said in a statement.
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