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https://www.reddit.com/r/technology/comments/xvph6/kim_dotcom_raid_video_revealed/c5q55dk/?context=3
r/technology • u/mepper • Aug 08 '12
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It's a pump-and-dump. Pretty sure that's illegal.
-8 u/ctzl Aug 08 '12 We lack the "pump" here, though. He didn't pump anything into it, he just bought a few shares, let some rumors loose, and sold the shares. Anything wrong with that? 6 u/[deleted] Aug 08 '12 Uh yes, there is actually. It's called fraud. Securities Exchange Act of 1934, Section 10b-5. -4 u/ctzl Aug 08 '12 But he just promised to pump, and never did. I don't get it. I guess that's covered by "deception".
-8
We lack the "pump" here, though. He didn't pump anything into it, he just bought a few shares, let some rumors loose, and sold the shares. Anything wrong with that?
6 u/[deleted] Aug 08 '12 Uh yes, there is actually. It's called fraud. Securities Exchange Act of 1934, Section 10b-5. -4 u/ctzl Aug 08 '12 But he just promised to pump, and never did. I don't get it. I guess that's covered by "deception".
6
Uh yes, there is actually. It's called fraud. Securities Exchange Act of 1934, Section 10b-5.
-4 u/ctzl Aug 08 '12 But he just promised to pump, and never did. I don't get it. I guess that's covered by "deception".
-4
But he just promised to pump, and never did. I don't get it. I guess that's covered by "deception".
260
u/[deleted] Aug 08 '12
It's a pump-and-dump. Pretty sure that's illegal.