More on Combatting Pump and Dump
There was more news on combating pump and dump schemes from Southwest Nebraska News - from the Republican Valley Media Group, McCook, NE This one had a variation on a theme though, instead of spamming to pump up a stock, the individuals are accused of using stolen identities to establish new accounts, make additional purchases on a stock and drive up the price.
A federal grand jury in Omaha, Neb., has indicted three individuals on charges of conspiracy, fraud and aggravated identity theft stemming from a high-tech, international fraud scheme designed to hijack online brokerage accounts for profit, Assistant Attorney General Alice S. Fisher of the Criminal Division, U.S. Attorney Joe W. Stecher for the District of Nebraska, FBI Executive Assistant Director for Criminal Investigations Michael A. Mason, and Securities and Exchange Commission (SEC) Chairman Christopher Cox announced today.
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