SEC Sues Telemarketers for Fraudulent 'Wrong Number' Stock Tips
The Securities and Exchange Commission announced the filing
of civil charges against two voicemail broadcasters and their associates for broadcasting hundreds of
thousands of fraudulent "wrong number" stock tip messages. The messages, which were left on
telephone voicemail recording machines throughout the country, were designed to make each
recipient believe the caller had dialed the number by mistake. Many of the messages were left by a
woman calling herself 'Debbie,' and sounded as if she had misdialed when calling a friend to pass
along a hot stock tip.
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