Pro tip: Don't include SEC lawyer in your $4.6m botnet scam

When running a botnet to spam millions with emails touting your illegal stock-scalping scheme, it's rarely a good idea to include a US Securities and Exchange Commission lawyer's work address on the mailing list. Alas, these kinds of oversights sometimes need to be learned the hard way, as allegedly is the case of two Texas …

[Anonymous Coward]

@BLoad

Seriously, why? It's a crime to defraud people, but last I checked, there is no crime for or law against being stupid or gullible. If you don't think so, I have roughly $14.7 Million USD that I'd be happy to part with for a finders fee of $500

[Kristin McKechie]

hmmm.. 4.3m siezed

... less 2.8m disgorgement and 1m fine... so the scammers made a $400,000.00 profit over 2 years? 200k per annum still looks like a good wage for doing f**k all to me....

[Daniel]

Now THAT's a punishment.

Finally - a judge who understands that when somebody has made millions through illegal activity, a fine of 250k and a promise not to do it again does not constitute justice. Take away *all* the illegal earnings first, *then* add suitable punishment.

@BLoad - I certainly hope not.

[jai]

re: And the question is.....

what money is left?

they ripped off 4.6m

but only 4.2m was recovered

2.8m of that is paying their disgorgement and prejudgement interest (whatever that is, i doubt it's going back to the victims)

and 1m is going straight into the SECs pocket

leaving only 0.4m usd

[Tom Austin]

Yeah, well.

Well, nice to see the SEC doing something that they should. Of course, bit late as far as the rest of the world-wide economic carnage of bilking that they could have helped prevent, or at least publicly highlight, is concerned.

But still. Two perps down. A start, maybe?

[alex marsh]

Penny Stocks

Oh wow the SEC actually doing something about pump and dumps. Who would have thought they would actually do anything??? ahaha its about damn time, I can't believe there just doing a settlement throw there dumb asses in jail id say. If you can't play the game fair then you should be allowed to play at all. www.ironhotstocks.com is literally the only site I would trust receiving information. If you ever receive spam emails stating "THIS STOCK IS GONNA BLOW UP INVEST!" please don't your just fueling idiots and filling their pockets. All I can really say is thank god SEC is finally catching these bastards!

Well those are my thoughts

Enjoy

[Stuart McLachlan]

...and the answer is

Nope, it's a stupidity tax. The gummint keeps it.

[Goat Jam]

@BLoad

ha ha ha ha ha ha

Good one.

[Ken Hagan]

Well it brightened up my breakfast!

"...with the subject line 'Experts are jumping all over this stock...'"

How, er, prescient!

"Darrel Uselton still faces charges for engaging in organized criminal activity."

He'll probably get off those charges. There's really very little evidence of organisation here.

[Anonymous Coward]

Re: Tom Austin

Well stated.

[TeeCee]

@Daniel

Almost. Actually that's a punishment for the stock fraud.

They've still got to answer for the CAN-SPAM / Wire Fraud / other computer crime / whatever else they can think of offences. Someone's in a for a long stay in a small room with barred windows on top of being suddenly boracic.

[Martin Lyne]

It's clearly

.. a victimless crime.

Unsolicited email !== good advice

Darwinism implies you and your children deserve to starve thanks to your stupidity.

[Anonymous Coward]

Crime/Not Crime

Conning thousands of idiots out of their money = Not Crime.

Annoying an Important Person via email = Crime.