Stock Picking Robot (No, Really)

posted in: SEC Examinations | 0

The Securities and Exchange Commission recently charged twin brothers from the U.K. with defrauding approximately 75,000 investors through an Internet-based pump-and-dump scheme in which they touted a fake “stock picking robot” that purportedly identified penny stocks set to double in price.

Not sure which is more remarkable – that there could actually be such a thing as a stock picking robot or that 75,000 “investors” believed that there was?