| A century ago P.T. Barnum sagely told us,
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| | stoked by the bargain-basement price,
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| "A sucker is born every minute." At the
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| | investors flew to the stock driving its
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| time he was, no doubt, correct.
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| | price from $5 to $7.50 in minutes. With
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| No longer. In today's internet world,
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| | the aid of the many day traders on the
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| that time-span has been cut back to every
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| | exchange, who buy quickly on rumor, the
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| nana second. Now that spam has been
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| | scam artist walked off with a fast-buck
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| somewhat curtailed, scam artists have
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| | haul of $520,000. Presto. Nothing more
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| moved their operations, largely, to
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| | than a classic pump and dump, only taken
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| internet bulletin boards and chat rooms.
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| | out of the usual "pump" time frame,
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| That's all. A change of venue. Like
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| | speeded up so that the whole thing would
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| maggots fried in hot grease, they have
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| | come to climax before law enforcement
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| moved, jumped, spread out, occupied many
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| | authorizes could even answer their phones
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| of these new communications centers.
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| | to take the inevitable complaints. Real.
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| This up-the-ante, beat-the-street move
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| | But, like a classic page from a legal
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| was made necessary because state law
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| | thriller book.
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| enforcement agencies, the SEC, and the
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| | Take a long look sometime. Observe all
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| FTC have, in recent years, set up teams
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| | of the stock boards and news boards
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| to daily police the worldwide web. With
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| | hanging in cyberspace. As so many scam
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| spam, being the most obvious and easiest
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| | artists still dance on the internet in a
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| to detect, the scam artists have been
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| | perpetual spam-fest, this stock "guru"
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| forced to a better, alternative outlet
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| | found a better way. Whereas legendary
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| for their "avant-garde" visions.
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| | con man, the Music Man's Professor Harold
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| With a chat room, nothing more than
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| | Hill, gave us 76 trombones, he put a
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| pulling all the old con-lines out of
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| | little cha-cha-cha into the sax section.
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| mothballs and reusing them is needed.
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| | The SEC gets in upwards of 200 complaints
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| With con-world tactics, they spiel out
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| | a day about illegal activity on the web.
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| typical con-like jargon, and reel in the
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| | Most pf these are stock scams. With
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| usual high percentage of suckers. Just
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| | fraud made this easy it should come as a
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| like the good old days.
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| | heavy-booted reminder that this
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| With bulletin boards--those Illusory
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| | particular form of Scamology 101 should
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| walls seemingly profaned by
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| | be featured in Scam School, for the
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| graffiti--it's a little different. The
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| | benefit of all concerned watchdogs and
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| scam artists are challenged. Tactics and
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| | law enforcers.
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| timing take greater emphasis. Try this
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| | It's textbook.
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| example on for size:
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| | With his imposing presence, elegant
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| A clever scam artist left a message on a
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| | sartorial style, and eloquent use of the
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| prominent stock board that a small U.S.
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| | language, the con man has evolved. And
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| hi-tech company was about to be bought up
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| | now, with his range so widely expanded,
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| by a European firm for $900.000.000.
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| | your life as a potential target has
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| This was a sum nearly double its market
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| | expanded right along with it. Unless you
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| value. The posting had a link to another
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| | count your age in elephant years, you
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| bulletin board which displayed a press
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| | will most likely find yourself in his
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| release giving the details. The press
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| | cross-hairs at some moment in your life.
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| release was a phony, placed there by the
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| | Prepare. Learn. Now is the time. Be
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| con man himself. His purpose was
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| | ready for that cure-all elixir when it
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| 1-track, to temporarily drive up the
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| | comes.
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| price of the stock. With the temptations
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