Prolific US spammer charged with fraud
Publish date: 09 January 2008
Issue Number: 1215
Diary: Legalbrief eLaw
Category: Internet
A US man described as one of the most prolific senders of spam e-mail was among 11 people accused in a federal indictment of defrauding people by manipulating Chinese stock prices.
The New York Times notes that Alan Ralsky, of West Bloomfield Township, Michigan, made about $3m through the scheme in the summer of 2005 alone. A 41-count indictment accuses Ralsky and other defendants of sending tens of millions of e-mail messages to computers worldwide, trying to inflate prices for Chinese penny stocks. The defendants then sold the stocks at inflated prices, Murphy said. Full report in The New York Times
