Re: Pump and Dump

"Andy" <[email protected]> wrote in message
news:[email protected]...
> The P&D scam was completely new to me until a few weeks ago when I started
> getting a load of backscatter from a scammer - mail bounces coming to
> randomly generated user names (typically 3 to 5 random characters) at my
> domain. The originating IPs of the scam mails appears to indicate a number
> of bots located around the world, mostly South Korea, Latin America and
> Texas(!), with a few in Germany.
>
> I have researched some of the P&D companies and one is apparently a
> microscopic oil company located in Canada. There are only 39 share holders
> and the company appears to consist of one guy - the 'CEO'. The share price
> has increased by 44% recently.
>
> My questions are therefore -
>
> 1. Is P&D actually illegal or is it a case of 'caveat emptor'?
>
> 2. If it is illegal then where would you make a report? Given that there
> appear to be only 39 possible beneficiaries in this company it shouldn't
be
> too hard to trace the scammer.
>
> 3. At the end of the day would anyone actually follow this up or would I
be
> wasting my time? The scammer may make a few bucks but he won't be retiring
> on the proceeds of this one.
>
>
> An additional question - can you confirm that Spamcop encourages reporting
> the mail bounces themselves as spam? I've seen this suggestion a few times
> on the forums. Originally I was just annoyed by the scammer but the
> frequency of the incorrectly bounced mail is not decreasing and I'm
actually
> getting more fed up with mail servers that are incapable of recognising a
> spoofed return address.
>
> As an aside - you wouldn't believe how many people out there send
> out-of-office autoresponses in reply to mail originating from outside
their
> local networks... or maybe you would.  :-)
>
> Thanks
> Andy
>
>
>
P&D is Illegal, but difficult to prove.

It depends on where the shares have been traded, probably at the Vancouver
Stock Exchange,which is part of the TSX, so you need to file a formal
complaint with the Ontario, and, British Columbia Securities comissions,
they have a web page, complaint would have to be on paper., I would CC the
NASDAQ and SEC (USA) also.

Because these shares may be purchased over the counter anywhere, in
particular anywhere they pump, that means multiple jurisdictions could (in
principle) get involved.

Several of the companies i have seen share a president or chairman who lives
in Penticton BC., probably has several names and one house.

One of the garment manufacturers I've seen has years of letters of intent to
buy this and that, but no revenues for several years, like 0 revenue, and
negative income.

I guess anyone can write a letter stating they intend to do something and
then sign it and announce the writing of their signature. They don;t have to
actually send the letter anywhere.