Pam Anderson-Backed Investment Opportunity May Not Have Been What It Seemed
It’s hard to resist Pam’s cogent economic analysis. It’s also hard to resist an “exciting online free global marketplace.” Called FrogAds.com, no less! Sounds legitimate.
At least, it did to some people who poured between $ 30 million and $ 300 million into what may have been a pump-and-dump scam.
Fourteen people have been booked, none of whom is Pamela Anderson. But those that were arrested, well, they need to be a little more careful about what they say on the phone when committing securities fraud.
One of the suspects was recorded saying one of the companies on which shares were traded simply did not exist: “There’s nothing in there. There’s nothing to the company. It’s monkey business,” the executive said, according to prosecutors.
Feds arrest 14 in alleged massive Southland stock scheme [LA Times]