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New Charges Against 17-Year-Old

Discussion in 'The Lounge' started by Z3PR, Apr 30, 2002.

  1. Z3PR

    Z3PR Banned

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    WASHINGTON (Reuters)
    - Federal securities
    regulators on Tuesday
    accused a 17-year-old
    of making more than
    $91,000 in profit by
    manipulating the stock
    prices of 15 companies,
    adding to charges filed
    earlier this year
    accusing him of running
    a sports investment
    scheme.

    The Securities and
    Exchange Commission
    filed the new charges
    against Cole Bartiromo
    in New York, alleging
    he conducted an
    Internet pump and dump scheme in which he allegedly bought
    large blocks of shares of small, public companies and then
    posted false press releases about them.

    After their stock prices rose on the positive news in the
    releases, Bartiromo allegedly sold the stock.

    His scheme, which ran from May 2001 to July 2001, involved
    about 6,000 online postings and several million shares of at
    least 15 companies, generating a net profit of more than
    $91,000, the civil complaint said.

    Bartiromo's attorney did not immediately return a call seeking
    comment.

    Earlier this year, the SEC accused Bartiromo and others of
    raising over $1 million from more than 1,000 investors in a
    sports betting scheme that promised to repay investors 125
    percent to 2,500 percent of the original investment.
     
  2. lifted95z71

    lifted95z71 1/2 ton status

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    wish id thought of that (or was smart enough to do it) when i was still a minor.
     
  3. Z3PR

    Z3PR Banned

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    I hear that !!!
     

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