Scam artists says penny stocks controlled by organized crime
An nies offering their stocks state securities regulators admitted penny stock scam over-the-counter they are American investors have artist, wearing a hood to often manipulated by brok- been cheated out of at least conceal his identity, told aers, promoters or salesmen. $2 billion a year by crooked House sub committee Although their price — a schemes ‘involving pennystocks
Thursday that penny few cents up to a few dollars stocks stocks traded over – the- a share — makes penny The National Association counter are oft en controlled stocks attractive to small Of Securities Dealers aselfby organized crime. investors with limited regulat i ng organization Lorenzo Formato, a for- funds, many are prone to that oversees over – the mer broker and promotor of abuse because information counter stock brokers said he inexpensive but highly about the issuing company investigation of organrisky securities known as often is hard to obtain and ixecjcrjme links to the pennystocks testified that fraudulent claims are di f f i- industry was in government “organized crime has their cult to dispute. Hands hand on the shoulder of Small or young compasomeone inside any (over- nies, or those that trade “We’re cracking down t h e – counter ) brokerage infrequently or in a limited hard on unscrupulous penthat’s making money.” area, are often listed only on stock brokers, but we’re Formato is now in the so – called “pink sheets” not EUiottNess ,” said federal Witness Protection rather than with larger and Robert Ferri a NASD Program. more s t able companies. spokesman. “If an invesiiHe told the Energy and Brokers and investors must gation has to go farther Commerce subcommi t t ee call a broker that deals in a than our purview, the law on t e l e c o m m u n i c a t i o ns specific company’s shares enforcement agency we’re and finance that although to get a price quote. dealing with will take it from there are legitimate compa- According to a survey by there
Related Posts :
<a href=”https://stockpenny.wordpress.com/2011/03/22/scam-artists-says-penny-stocks-controlled-by-organized-crime/”>Scam artists says penny stocks controlled by organized crime</a>
<a href=”http://acepennystocks.blogspot.com/2011/03/blue-chip-issues-versus-penny-stocks.html”>Blue-chip issues versus the penny stocks</a>
<a href=”http://acepennystocks.weebly.com/1/post/2011/03/money-watch-by-carol-mathews.html”>Money Watch By Carol Mathews</a>
<a href=”http://stockpenny.tumblr.com/post/4022855182/hurricane-pains-insurers”>Hurricane pains insurers</a>
<a href=”http://hubpages.com/hub/A-home-built-with-fizz”>A home built with fizz</a>
<a href=”http://www.squidoo.com/mutual-funds-sensible”>Mutual funds sensible</a>
Related Posts :
Scam artists says penny stocks controlled by organized crime
Blue-chip issues versus the penny stocks
Money Watch By Carol Mathews
Hurricane pains insurers
A home built with fizz
Mutual funds sensible