The Texas attorney general charged two men with running a pump-and-dump spam scam that defrauded investors out of more than $4.6 million. Who falls for this stuff?[Information Week]

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  1. BillyMumphry says:

    old people. retarded people. old retarded people.

  2. Murph1908 says:

    I think the bigger question is, why didn’t these morons quit sooner? The article says they reaped ‘millions’ already!

    It also mentions their failure to check the email addresses to see who they were going to was their downfall.

    I disagree. It was their greed that did them in. Had they stopped at a million each, they’d have been able to live easy and would have never gotten caught.

  3. banned says:

    Thats a great idea! And now we have a better idea how not to get caught! All joking aside, anyone who buys stock based on anonymous chat boards deserve to lose their money.

  4. Murph1908 says:

    My point is, I have heard a hundred stories like this, where the fraudster gets caught after a long, successful run. Most recent one that sticks out in my mind was something about a mail-order scam. The guy had made over 4 million, but still was trying to milk it for more.

    Sure, it’s easy to look at it after resolution and say, “I’d have stopped half way.” But seriously. Quit while you’re ahead, lay low, and live on 50K a year for 20 years. There will still be suckers around in 2027 to fleece, and no hot trail to your criminal behind.

  5. kingoman says:

    Greed keeps the perps perping. Greed makes the victims fall for it. Such elegant symmetry.