http://www.theregister.co.uk/2009/03/19/sec_settlement_useltons_botnet_stock_scam/ By Austin Modine in San Francisco The Register 19th March 2009 When running a botnet to spam millions with emails touting your illegal stock-scalping scheme, it's rarely a good idea to include a US Securities and Exchange Commission lawyer's work address on the mailing list. Alas, these kinds of oversights sometimes need to be learned the hard way, as allegedly is the case of two Texas men who recently settled a civil lawsuit with the SEC. Darrel Uselton and his uncle Jack Uselton were charged with fraud by US regulators in 2007 based on claims they orchestrated a series of spam email campaigns using an array of botnets. The Useltons allegedly flooded inboxes across the country with spam emails pitching near-worthless penny stock using baseless price projections and other unfounded claims. According to the Commission's complaint, the Useltons bilked investors out of more than $4.6m between May 2005 and December 2006 with their fraudulent activities. The SEC said the Useltons typically received unrestricted shares from penny-stock companies for little or no money in return for purported promotional activities. [...] _______________________________________________ Best Selling Security Books and More! http://www.shopinfosecnews.org/Received on Wed Mar 18 2009 - 23:16:15 PDT
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