report scams here at dont get scammed Scams and Scammers - Expose hypocrisy and spread respect ! Don't get ripped off! REGISTER  

Go Back   scams > Scam Message Board > Investment Scams
Register FAQ Register To Post Member List Promote Search Today's Posts Mark Forums Read
Thread Tools
Old 04-24-2012, 01:43 PM
Administrator's Avatar
Administrator Administrator is online now
Stick to thread topics please & don't scam.
Join Date: Oct 2011
Location: The Matrix
Posts: 13,296
Stock Picking Robot Scams

The brothers also are accused of running a related con offering their services as stock promoters.

It sounded far-fetched -- a "stock-picking robot" that could identify penny stocks poised to double in price.Turns out, it was.

Federal regulators filed a civil complaint Friday against 20-year-old twin brothers in Britain, claiming that they duped 75,000 people -- mostly Americans -- into paying $47 each to get stock tips from a robot named Marl. They told investors that Marl ran on a computer code written partly by a onetime Goldman Sachs programmer who didn't exist, the Securities and Exchange Commission said.
Alexandar John Hunter and Thomas Edward Hunter launched the scheme in 2007, when they were just 16, and took in at least $1.2 million from gullible investors, the SEC said.
And that was just the half of it, according to the federal complaint. The brothers also are accused of running a related con offering their services as stock promoters, claiming they could "rocket" a stock's price by touting it to subscribers in their newsletter.
The SEC said the Hunters were paid at least $1.9 million by "known or suspected stock promoters" to push their shares. This they did -- to the clients who had signed up for Marl the robot's stock-picking predictions, the agency said. Whole Story
Want to post on SCAM.COM? Register Here - Advertise - Promote

Bookmark and Share

Reply With Quote


Similar Threads
Thread Thread Starter Forum Replies Last Post
Satan: Picking Sarah Palin For VP Was A Big Mistake dchristie Political Chat 3 07-31-2012 01:35 PM
Who is Romney Picking To Be His Vice President ? Administrator Political Chat 20 05-26-2012 06:26 PM
Commission Robot SCAM? BlueThunder Work at Home Scams 1306 12-16-2010 01:38 PM
'MARL' the $28000 'stock trading robot' Mojo Bailey Investment Scams 0 05-15-2008 12:17 PM
Canadian Stock Scams Leon Holmore Investment Scams 0 02-09-2006 10:45 AM

Thread Tools

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

vB code is On
Smilies are On
[IMG] code is On
HTML code is On
Forum Jump

This site may contain advice, opinions and statements of various information providers. does not represent or endorse the accuracy or reliability of any advice, opinion, statement or other information provided by any information provider, any User of this Site or any other person or entity. Reliance upon any such advice, opinion, statement, or other information shall also be at the Userís own risk. Neither nor its affiliates, nor any of their respective agents, employees, information providers or content providers, shall be liable to any User or anyone else for any inaccuracy, error, omission, interruption, deletion, defect, alteration of or use of any content herein, or for its timeliness or completeness, nor shall they be liable for any failure of performance, computer virus or communication line failure, regardless of cause, or for any damages resulting therefrom. Just because a business, person, or entity is listed on does not necessarily constitute they are scammers. This is a free open forum where people can debate the merits from the consumer's or business owner's perspective. Registration and participation is always FREE.

All times are GMT -5. The time now is 12:34 AM. Is Proudly Hosted By Rackco and Protected By CloudFlare

Scams Message Board - Copyright 2004-2013 , All Rights Reserved.