Word: fraud
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Dates: during 1990-1999
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...ballooning stock market, measured, critical financial reasoning strikes some people as cynical and potentially disastrous. (He who hesitates is lost - and loses out on that IPO.) That pervasive air of recklessness, combined with the infinite information available to investors, renders the Internet spectacularly ripe ground for speculation and securities fraud. And while the SEC is getting better at tracking down cyber-criminals (this case was wrapped up in less than a month), charlatans will probably have free rein over the Internet (and susceptible users) for many years to come...
...Unfortunately for two cyber-hucksters who made a quick $370,000 by circulating false rumors of a corporate takeover, technology has also made it easier for law enforcement officials to catch criminals. Wednesday, federal prosecutors charged Arash Aziz-Golshani and Hootan Melamed, both 23, with conspiracy to commit securities fraud, and the two face civil charges from the SEC as well. It was a stunningly simple plan: One Monday morning, investor chat rooms were abuzz with a tip that NEI, a down-and-out commercial printing company, was about to be snapped up by a prosperous suitor. A feeding frenzy...
When the Hatchet, the student newspaper of George Washington University (GWU), printed an article about the fraud charges against him on Nov. 8, Meinert resigned from the fraternity and withdrew from the Extension School...
Edward F. Meinert, who pled guilty in October to one count of theft and one count of fraud, had been scheduled for sentencing yesterday, but his lawyer, Joseph Jorgens, asked a federal judge to postpone the hearing...
...Meinert] needed to provide a list of the names of the victims of the fraud scheme and to pay restitution," said Patricia Heffernan, an assistant U.S. attorney. "He didn't do that...