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So, by fabricating entirely false financial pictures for companies, > We created bots to trade against incoming orders. They were like my friends. I even named
by rrrx3 11y ago
So, by fabricating entirely false financial pictures for companies,
> We created bots to trade against incoming orders. They were like my friends. I even named them! My favorite was the “Jesse Livermore” bot. Opportunistic to a fault.
> The bots would run every day and place orders against each other so the market looked like it was exhibiting lots of price movement and volume. For added credibility, we randomly generated trading histories for each company going all the way back to last year. So we had historical price and volume in addition to streaming quotes for chart data.
and by then letting people speculatively place their own money into the already unbalanced and illegal equation, you somehow managed to wipe your hands of any responsibility for their actions?
What in god's name are you smoking? You got off easy with a 20k fine. You belong in prison.
- jboy55 11y agoWho knows if one of the creators had some options in one of the companies with 'fake' histories. They very well could be in prison. In fact, its amazing they continue to run the site, even without accepting money, creating 'fake' data and fake investors to show fake growth of something tied to a real security (you can still trade private stock), is inviting a shit tonne of legal hassles. "Oh hey, here's a list of private startup stock I own, can you please create some fake data to show a huge interest on your site so I can drive the private sale price and generate some sales?"
- deleted 11y ago[deleted]