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"
References in periodicals archive ?
The Securities and Exchange Commission (SEC) has announced charges against a Houston-based penny stock firm and four individuals behind a pump-and-dump scheme that misguided investors to believe the firm was on the edge of creating a revolutionary technology to allow environmentally friendly oil-and-gas production.
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.
The defendant's pump-and-dump scheme artificially inflated stock prices before he sold off the shares, leaving honest investors holding worthless stock," Manhattan District Attorney Cyrus Vance said in a statement.