Jury Convicts Spammer For Role In Pump-And-Dump Scheme

Law360, New York (December 4, 2012, 7:14 PM EST) -- A New Jersey federal jury Friday convicted Christopher Rad, the organizer of a spam email “botnet,” for his role in a pump-and-dump scheme involving nearly 40 different penny stock companies.

After a nine-day trial, the jury convicted Rad on six counts of unauthorized access spamming and conspiracy to further securities fraud, but let him off the hook on three counts of false registration spamming.

Rad had acted as a middleman between stock promoters seeking to pump and dump more than three dozen penny stocks and computer...
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