pump-and-dump scheme

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Noun1.pump-and-dump scheme - an illegal scheme for making money by manipulating stock prices; the schemer persuades other people to buy the stock and then sells it himself as soon as the price of the stock rises
dodge, stratagem, contrivance - an elaborate or deceitful scheme contrived to deceive or evade; "his testimony was just a contrivance to throw us off the track"
Based on WordNet 3.0, Farlex clipart collection. © 2003-2012 Princeton University, Farlex Inc.
References in periodicals archive
It was behind the "Pu'er Coin" and orchestrated an elaborate pump-and-dump scheme.
Police arrest six individuals
"Christopher Rad's use of hackers to drive his pump-and-dump scheme illustrates a trend toward the modern mechanization of old-school scams," Fishman said.
Head of hacker-powered stock scam sent to prison
ran a variation on this basic pump-and-dump scheme. As charged in the complaint, the fact that the price of a particular stock may have gotten a boost from Agora's hype was almost a side issue to the newsletter publisher's real objective.
SEC files complaint against Agora Inc., alleging it made e-mail offers to sell inside information
Investigator David Horowitz said: "He was running a pump-and-dump scheme every bit as serious as other internet fraud cases we have brought.
SHARES SCAM NETS TEENAGER pounds 200,000
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