This post is directed to no one in particular. I have found that after two or three weeks the majority of us tend to forget what has been previously posted. This post is just to refresh our memories.
I will say that I hope the RICO ACT will be strictly enforced:
Sunday, May 23 1999 4:16PM ET
Reply # 4005 of 4053
REPORTED FOR INFORMATIONAL PURPOSES ONLY.
Unscrupulous Posters on SI and other Public Forums, TAKE HEED!
Subject: More on the RICO ACT
Date: Sun, 23 May 1999 13:05:30 PDT
Nice post! Here is wisdom:
Sunday, May 23 1999 8:45AM ET
Reply # of 6797
Good morning Jens, the RICO ACT as you know is all encompassing. The intent was
only to recognize the illegal act which provides for $$$, but it then covers any
further use or gains of funds derived from this criminal act. They need to prove
that this was an "intential or knowing" act. <s> Once that is proven, they can cut
the operation at its knees forever...and protect investors from racketeering which
need not be done by groups of people. A single person can be a racketeer...
A decent link regarding the act itself:
The SEC also has section 17(a) of the securities act which refers to schemes to
defraud by means of untrue statements of material facts.
This Act is the teeth for enforcement against shorters and hypesters
who attempt to defraud investors by using untrue statements for their personal gain.
I believe we shall see in the very near future SEC litigation brought forward
against many individuals and brokerages posting on the net. Their intent has been to
deceive with the intent to induce others to buy or sell shares, with "opinions" even
they know cannot be true or possible. It is easy to manipulate penny stocks and we
must be on our
guard. Too many investors have been hurt over the years by false and misleading
posts. The agencies are now aware of some of these individuals. <s>
To make our markets safer for honest investors, the SEC cannot only charge companies
with the RICO ACT, it must also hit on the posters.
Otherwise, these threads become nothing more than a place to manipulate stocks.
I appreciate very much your comment Jens, as well as selfops. Thank you.<<<