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 ?
It was behind the "Pu'er Coin" and orchestrated an elaborate pump-and-dump scheme.
Using false and misleading spam emails sent to millions of people, these defendants allegedly directed their pump-and-dump scheme from their computers halfway around the world."
"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.
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.
Investigator David Horowitz said: "He was running a pump-and-dump scheme every bit as serious as other internet fraud cases we have brought.
The SEC has amended a complaint that it filed last week in a pump-and-dump scheme to charge a financial advisor it said took part in the arrangement.
Among recent enforcement actions by the Securities and Exchange Commission were charges against a New Jersey man and his company in a pump-and-dump scheme; against a soccer club accused of penny stock fraud; and a bar against a hedge fund advisor for false statements that caused a fund to collapse.
Among recent enforcement actions, the Securities and Exchange Commission shut down a $78 million pump-and-dump scheme involving a coffee company with ties to the late reggae great Bob Marley.
Edward Withrow III, the executive chairman of medical diagnostics company Endeavor Power Corp., and two others were charged by the SEC with conducting a pump-and-dump scheme that was unsuccessful after the SEC suspended trading in the company's securities before secretly controlled shares could be dumped on unsuspecting investors.