It’s hard to resist Pam’s cogent economic analysis. It’s also hard to resist an “exciting online free global marketplace.” Called, 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]

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Comments (7)

  1. Posted by Tommy Lee | February 14, 2013 at 5:10 PM

    Knew that deal was going to end up tits up.

  2. Posted by Im_a_Dude | February 14, 2013 at 5:30 PM

    i second that.

    -Kid Rock

  3. Posted by Ratio Rationer | February 14, 2013 at 5:54 PM

    One of the rare Shaz posts where the written-to-quoted ratio exceeds 1.

  4. Posted by Wayne Campbell | February 14, 2013 at 6:29 PM

    I mean, there's two Johns on DB, right? John Carney, John Shazar. Yeah, RIGHT, as if we wouldn't notice. Well, hold on. John Carney. John Shazar. Shazar Carney. Wow.

  5. Posted by Guestalt | February 14, 2013 at 8:05 PM

    Are you fucking kidding me with this shit, Shazar?

  6. Posted by dandraka | February 15, 2013 at 4:16 AM

    From the video : "a new online SENSEATION" (sic !)

  7. Posted by Nathan Arizona | February 15, 2013 at 9:14 AM

    If a FrogAds had wings, it wouldn't bump his ass a-hoppin'!