January 10th, 2002, 04:33 PM
$1M Internet Fraud Scheme
This is just goes to show how vulnerable people are to reverse enginereing.. This 17 yr old "reverse enginered" $1M from this fraud scheme:
"'This case ... demonstrates that just about anyone — even a 17-year-old high school student — can mastermind a securities fraud over the Internet,' said Stephen M. Cutler, director of the SEC's Enforcement Division..."
17-year-old Mission Viejo, California high school student was identified by the Securities and Exchange Commission Monday as the mastermind behind an online securities scheme that bilked at least 1,000 investors out of more than US $1 million over a two-month period...and hid it in a casino account...
January 10th, 2002, 04:37 PM
LoL. Thats pretty funny...
[shadow]uraloony, Founder of Loony Services[/shadow]
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January 10th, 2002, 06:00 PM
thats some funny shiznit rofl
January 10th, 2002, 06:19 PM
It is amazing that so many pople will fall for such a thing. Too bad the kid did not get away with it. That was rather slick.
\"Computer games don\'t affect kids; I mean if Pac-Man affected us as kids, we\'d all be running around in darkened rooms munching magic pills and listening to repetitive electronic music.\" Kristian Wilson, Nintendo, Inc. 1989
January 10th, 2002, 06:42 PM
There's a sucker born every minute.... and two get taken advantage of, every second.
Mankind have a great aversion to intellectual labor; but even supposing knowledge to be easily attainable, more people would be content to be ignorant than would take even a little trouble to acquire it.
- Samuel Johnson
January 10th, 2002, 08:32 PM
You'd think with all the hype that this kind of thing receives, these 'investors' would not fall for such foolishness. But that's the world we live in, some people will do anything for the money. I guess there is a lesson in this somewhere
Anyhow, good day all.