Archive for the ‘PIPEs’ Category

Picking on the Inexperienced

Tuesday, October 14th, 2008

Scamsters don’t have just one target audience for their schemes.  They are looking for anyone who might fall.  This time it was the elderly with little investment experience.

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SEC Shuts Down Bogus PIPE Promoters

Wednesday, September 24th, 2008

The U.S. Securities and Exchange Commission (”SEC”) has charged attorney Jeanne M. Rowzee, James R. Halstead of Santa Ana, Calif., and Robert T. Harvey of Prosper, Texas with promoting a Ponzi scheme structured as a PIPE investment.  PIPE stands for private investment in public equity and is a way for small to medium sized companies to raise capital by selling shares to private investors at a discount to the current market price. (more…)