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05

Jan
2008

Email Spam and Fraud

By Connie Jan 05, 2008 6:00 pm

For the most part I think the Can Spam Act has been a failure.

When a email spammer inserts outright fraud into the mix, the Feds are going to take another look and possibly go the extra mile to prosecute.

WASHINGTON (Reuters) - A federal grand jury in Detroit has indicted a Michigan man dubbed the "spam king," and 10 others, in an international illegal bulk e-mailing and stock fraud scheme, the U.S. Justice Department said on Thursday.
Under the scheme, the group sent spam touting thinly traded Chinese penny stocks, drove up their stock price, and reaped profits by selling the stock at artificially inflated prices, the statement said.

Read the Article published in Yahoo News.

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