Botnets, Spam Used in Stock Scheme

["Paul Ferguson" <fergdawg () netzero net>]

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Via InfoWorld.

[snip]

The U.S. Securities and Exchange Commission has filed securities fraud
charges against two Texas men who allegedly hijacked computers nationwide
to send millions of spam e-mails and cheat investors out of more than $4.6
million.

The men used networks of compromised computers, often called botnets, to
send out spam about at least 13 penny stock companies, the SEC said Monday.
The SEC began to investigate the operation after one of its enforcement
attorneys received one of the e-mail messages at work.

Darrel Uselton and his uncle, Jack Uselton, both repeat securities law
violators, illegally profited during a 20-month scalping scam, the SEC
said. The two obtained shares from 13 or more penny stock companies and
sold those shares after pumping up the market through manipulative trading,
spam e-mail campaigns, direct mailers and Internet-based promotions, the
SEC said.

[snip]

More:
http://www.infoworld.com/article/07/07/10/botnets-spam-stock-scheme_1.html

SEC:
http://www.sec.gov/news/press/2007/2007-130.htm

- - ferg

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--
"Fergie", a.k.a. Paul Ferguson
 Engineering Architecture for the Internet
 fergdawg(at)netzero.net
 ferg's tech blog: http://fergdawg.blogspot.com/


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