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There was an SEC enforcement action a few years ago where they went against a platform trading company that catered to especially unsophisticated and risk takin

There was an SEC enforcement action a few years ago where they went against a platform trading company that catered to especially unsophisticated and risk taking clientele. They never actually put on any of the trades their clients were "making." They just pocketed the money and when the clients inevitably lost it all, the outcome was the same for the client.

webmaven 6y ago
> They never actually put on any of the trades their clients were "making." They just pocketed the money and when the clients inevitably lost it all, the outcome was the same for the client. Whoa. That is so elegant in it's simplicity. Evil, certainly, but elegant. And now I'm imagining more elaborate versions that incorporate the Baltimore Stockbroker scam to convince the clients to invest (and lose) even more money...