Ralsky jailed for four years over stock fraud spam scam

    Date24 Nov 2009
    CategoryHacks/Cracks
    2599
    Posted ByAlex
    Notorious spammer Alan Ralsky has been jailed for more than four years over his role in a masterminding a stock fraud spam campaign that made him an estimated $2.7m. Ralsky, 64, from West Bloomfield, near Detroit, Michigan, was sentenced to 51 months while his son-in-law, Scott Bradley, 48, was imprisoned for 40 months over the same pump and dump stock fraud conspiracy involving thinly-traded stocks.

    Each pleaded guilty to wire fraud, money laundering and violations of the CAN-SPAM Act. Two other co-conspirators, who also confessed their involvement in the scam, were sentenced on Monday. Five others face a sentencing hearing later on Tuesday.

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