The Securities and Exchange Commission recently charged twin brothers from the U.K. with defrauding approximately 75,000 investors through an Internet-based pump-and-dump scheme in which they touted a fake “stock picking robot” that purportedly identified penny stocks set to double in price.

Not sure which is more remarkable – that there could actually be such a thing as a stock picking robot or that 75,000 “investors” believed that there was?

This entry was posted on Sunday, April 22nd, 2012 at 5:08 pm and is filed under SEC Examinations. You can follow any responses to this entry through the RSS 2.0 feed. Responses are currently closed, but you can trackback from your own site.