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Pump-and-dump schemes swindle millions from SoCal investors »

Posted by: STONERS 2 years, 6 months ago

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Government regulators have brought charges against three individuals -- including an e-mail spammer "last known to be of San Diego" -- accusing them of running a classic pump-and-dump market manipulation scheme that netted at least $6.5 million.

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STONERS
May 6, 2007, 11:09 p.m.
The plan was the brainchild of Stephen Luscko and Gregory Neu, both of Florida, who the Securities and Exchange Commission allege manipulated the stock price and trading volume of four publicly traded companies.
The San Diego connection in this case is Justin Medlin, who used the Internet to tout these stocks to unsuspecting investors. The SEC complaint alleges Medlin had been involved in similar activities in the past.

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