Pump & Dump

The Fraud

Fast-talking fraudster promotes a loser stock in online message boards, social networking sites, via telemarketing, and lots of spam. The relentless hype causes uninformed people to impulsively buy into the stock tip, driving the price way up. The fraudster then bails out of his holdings at the pumped up high, having dumped all his worthless shares on the unsuspecting hot tip believers.

The Flaw

The rapid dispersal of information and emphasis on urgency to act causes ignorant buyers to become unwittingly complicit in the scheme. Sounds like such a good tip!

The Fix

Again and again . . . if it's just too good to be true, what do we do??? Run, run away!

Related Resources

Securities Fraud

Ponzi Schemes

Peer Comments

Nothing new here

This is an age-old scheme...nothing new here. What is new is the speed of deployment of the "seller's puffing statements". These guys sell the sizzle, giving you a whiff of the steak, but never deliver. Caveat emptor.

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