Alexander John and Thomas Edward Hunter, 20, were hit with an SEC suit in New York federal court accusing them of touting a sophisticated trading program dubbed Marl that could pick out penny stocks poised to jump in value.The 'stock picking robot' was a work of fiction, the SEC said in its complaint. The defendants' story was persuasive. Approximately 75,000 investors, the vast majority of whom lived in the United States, http://www.nikefreeshoesonsale.eu - http://www.nikefreeshoesonsale.eu - Nike Free Tr Fit Mens , paid ... for annual subscriptions to the Doubling Stocks newsletter and copies of the robot software. The Hunter brothers' tips actually came from stock promoters that paid them more than $1.8 million in fees, none of which was disclosed to investors, the SEC alleged.Investors would pay $47 apiece to become subscribers of the annual newsletter, plus an additional $97 for a download version of Marl, http://www.keensneakers.com - http://www.keensneakers.com - Keen Newport Sandal , the stock picking robot, the complaint said. The software, http://www.cheapg-staruk.com - http://www.cheapg-staruk.com - G Star Raw Shirts , however, http://www.nikefreeshoesonsale.eu - http://www.nikefreeshoesonsale.eu - Nike Free Run + 2 Womens , was designed to take stocks from a database compiled by the Hunter brothers, http://www.cheapg-staruk.com - http://www.cheapg-staruk.com - G Star Raw T Shirts .Like the newsletter, the home version of the stock picking robot was no more than a fraudulent delivery vehicle for stock symbols that the Hunters had been compensated to promote, the SEC said in its release.The SEC said the alleged scam was a pump-and-dump scheme to generate trading volume for thinly-traded stocks.The Hunters used the anonymity of the Internet and the promise of easy riches to prey on investors, said Thomas A. Sporkin, http://www.monclerjacketsbuyonline.com - http://www.monclerjacketsbuyonline.com - Moncler Coat , chief of the SEC's Office of Market Intelligence.? While touting their supposed breakthrough investment technology on two websites, the Hunters were racking up fees as stock promoters through a third.
Related articles:
- http://kastamonum.com/forum/forum_posts.asp?TID=2390&PID=2778#2778 - Men Moncler Himalaya www.wilsontennisracketsstore.com Report
- http://www.tecnobitsrl.com/forum/forum_posts.asp?TID=183&PID=488#488 - G-Star jackets Wilson HEAD MicroGel Tennis Racquets NetSol Techno
- http://www.hilversumschecricketclub.nl/forum/forum_posts.asp?TID=744&PID=972#972 - Keen Whisper Sandals Wilson Prince O3 Tennis Racquets Natalie Woods Dau
|