SPAM investment advice

Mad Mike

I have recently started to get a new type of SPAM alongside the Nigerian letters, lottery wins and the unexpected inheritances.

These emails purport to give stock market advice and generally have a breaking news flash about some company that has just discovered Oil in it car park ensuring that its shares will skyrocket.

Unlike the usual email scams these letter don't look for name address and bank account details, they don't even invite a reply.

I can only guess that the scam works out like this: Pick a company whose shares are fairly cheap and buy a tonne of them. Then send out a million emails to people assuring them that this share is hot property and sure to skyrocket. If enough suckers believe you and actually purchase the share then the price will rise - allowing you to sell out quick and make a tidy profit.

If this is the case I am impressed. It implies signifcant planning and investment on the part of the scammer. I'm not even sure that what they are doing is illegal - the emails are loaded with the usual disclaimers that come with investment advice.

Oh wait a miniute - here is an interesting paragraph from the bottom of one of these emails:

This is not an expert to acquire or se|| securities.
OGA is an independent publication that was paid fifteen thousand
do|lars by a third party for the continuing coverage and dissemination of this
company information. Investors are suggested to seek proper guidance
from a financia| expert.

So they are more or less telling you that this is a scam - Wow.

Our man in Havana

Roffle

OGA is the nigerian word for head scammer. Very funny indeed.
These guys are not noted for their intelligence.