From Kevin Underhill’s Lowering the Bar:<\/p>\n
Australian sources report<\/em><\/a> that four people have been charged with conspiracy to commit fraud in a so-called \u201cpump and dump\u201d scheme, which involves artificially inflating a stock\u2019s value in order to sell it at a profit. Authorities evidently began to suspect that members of a Telegram chat room might be planning a pump-and-dump scheme after noticing the name of the chat room was \u201cthe \u2018ASX Pump and Dump Group.’\u201d According to the report, authorities warned members of the \u201cASX Pump and Dump Group\u201d in October 2021 that pump-and-dump schemes are illegal, but the four defendants proceeded anyway.<\/em><\/p>\n It’s a thing, isn’t it? You’re going to crime, but instead of the old-fashioned clandestine criming technique, you come right out and say what stupid thing you’re going to do. And then when you get warned, well…<\/p>\n This sounds like someone…the name doesn’t come to mind immediately, but someone I’ve heard of who tells us the rotten things he’s going to do. Out loud. And then he does them?<\/p>\n Who is that dimwit?<\/p>\n","protected":false},"excerpt":{"rendered":" From Kevin Underhill’s Lowering the Bar: Australian sources report that four people have been charged with conspiracy to commit fraud in a so-called \u201cpump and dump\u201d scheme, which involves artificially inflating a stock\u2019s value in order to sell it at … Continue reading