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| Spam king gets prison in scheme |
| By freep.com |
| Published: 11/24/2009 |
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A West Bloomfield man dubbed by the feds as the spam king was sentenced Monday by a federal judge to more than four years in prison for a stock-fraud scheme that netted him $2.7 million in the summer of 2005. Alan Ralsky, 63, pleaded guilty in June to conspiracy to commit wire fraud, mail fraud and to violating the federal CAN-SPAM Act, which bans misleading subject lines in e-mail and the sending of commercial e-mail messages that appear to be from friends. An indictment in U.S. District Court in Detroit charged that Ralsky of West Bloomfield, his son-in-law Scott Bradley and others used unsolicited e-mail to pump up the price of penny stock in Chinese companies to artificially high prices, and then sold it. They reaped huge profits for themselves, the indictment charged, and left Internet subscribers who bought the stock holding the bag. His operation illegally maximized the amount of spam that could be sent while evading spam-blocking devices and tricking recipients into opening and acting on advertisements, prosecutors said. Read More. |
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