Monday, June 3, 2013

SEC suspends trading of 61 firms 'ripe' for fraud

The Securities and Exchange Commission on Monday suspended trading of 61 microcap shell companies that the agency said were "ripe for fraud." The SEC said the thinly-traded companies have great potential to be "hijacked" by fraudsters who will falsely hype the stock to portray it as a thriving company in "pump and dump" schemes….

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