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> Wow, this looks like a pretty serious manipulation game they were playing: It's a basic pump and dump. Nothing new nor interesting. It's been done for decad
by qiskit 4y ago
> Wow, this looks like a pretty serious manipulation game they were playing:
It's a basic pump and dump. Nothing new nor interesting. It's been done for decades. There have been many movies on it - boiler room being one.
- deleted 4y ago[deleted]
- kube-system 4y agoMy first thought was: https://en.wikipedia.org/wiki/The_Wolf_of_Wall_Street_(2013_film) https://en.wikipedia.org/wiki/The_Wolf_of_Wall_Street_(2013_...
- girvo 4y ago> While on paper the defendants and their co-conspirators had no connection to these companies, in reality they exercised substantial control, including installing management at the companies, financing the companies’ operations, and funding payments for attorneys in order to prepare public filings with OTC Markets Group, Inc. and the Securities and Exchange Commission (the “SEC”). In order to attract investor interest, the defendants and their co-conspirators, at times, caused private businesses to be merged or “vended” into the publicly traded shell companies. The private businesses were often in industries likely to attract the investing public’s interest Slightly more interesting than your average pump and dump.