Friday, December 19, 2008

Former CEO of China World Trade Guilty of Fraud

Finally! Spammer brought to justice over phony stock market scams. The stock market bust is trickling down into our spam inboxes.

This is some great news for your Friday:

How Wai John Hui pleaded guilty in a Detroit federal court for his connection in an international fraud scheme that involved sending bulk commercial spam that manipulated the stock market.

According to court records, Hui conspired with others in 2005 to send tens of millions of unsolicited bulk commercial spam e-mail promoting thinly traded stocks for Chinese companies.
The individuals allegedly sent the spam e-mail to drive up the prices of stocks so they could earn profits.

Hui, a resident of both Hong Kong and Canada, was charged as a result of a 3-year investigation by the FBI, IRS and the United States Postal Inspection Service.

For more information on this case, please click here.

Share this article with your social network, just click below to share now!

No comments: