SEC Lifts Ax For Minnesota Stock-Price Spammer

thejuggler writes "A call to Samuel Meltzer's St. Paul home is greeted with the message that he doesn't want to be bothered by solicitations. But, this story in a Minneapolis newspaper tells how the Feds and SEC claim he is a huge spammer. They claim he sends out spam spreading false and misleading information about various penny stocks. So far he has made at least $159,600 in stock and cash from 1998-2001 for spreading this false information. In a brief interview Tuesday, Meltzer (The evil spammer), 37, said he hadn't seen the complaint. "This is a surprise," he added."

Comments

doesn't seem like much money

[AssFace]

$159K over 4 years or so doesn't sound like all that much money to me.

obviously nice on top of a regular salary, but in terms of a scam - I would think you would stive for more cash and in less time. do it fast and then it is over with and you have your cash to live off and be done with.

over the counter stocks (penny stocks) are pretty much all scams of some sort - to "invest" in them ever is just kind of retarded - it is more the realm of day traders since it is easy to see large percentage moves daily.