Katrina securities scams hit investors

[UpInArms]

http://today.reuters.com/investing/FinanceArticle.aspx?type=businessNews&storyID=2005-08-31T190957Z_01_ROB168958_RTRIDST_0_BUSINESS-FINANCIAL-SEC-KATRINA-DC.XML

WASHINGTON (Reuters) - Financial fraudsters are already hitting investors with post-Hurricane Katrina stock scams tied to speculation about spiking energy prices, U.S. market regulators warned on Wednesday.

After catastrophes like Katrina, fraudsters often rush to repackage old schemes around the latest sensational headlines, said the U.S. Securities and Exchange Commission.

"Already we are seeing e-mails touting stocks on the basis of hurricane activity in the Gulf (of Mexico)," said Susan Wyderko, director of the SEC's Office of Investor Education.

"Unfortunately, disasters always bring out scammers who prey on human suffering," she said in an interview.

One spam e-mail making the rounds on the Internet refers to "a spate of refinery glitches and an unusually active hurricane season" and says investors could more than double their money in just days on certain penny stocks, the SEC said.

...more...

[AlCzervik]

1. disgusting--the city is still under water and the grifters are out in full

force.

[yellowcanine]

2. Never underestimate the depravity and inhumanity of humanity.

[Just Me]

3. And people bitch about the poor "looting" food, drink, clothing.

BAH!!!!

The BushCO/neoCON regime are looting the flesh and blood and treasure of this nation!!! How come THAT KIND OF LOOTING isn't causing so much outrage? :grr:

[stillcool]

6. yeah...where are all those posters now?

friggin disgusting display of bigoted arrogance.

[catnhatnh]

4. Unfortunately disasters always bring out people...

....who prey on human suffering...RIGHT-parasites hoping to make monetary gain on the suffering of others-whom are EXACTLY who these offerings target-not hurricaine survivors but those looking for a windfall gain FROM the disaster...sorry but i APPLAUD this-let some greedy morons willing to bet the ranch against those stricken by an ACTUAL disaster take a bath...they BELIEVE in Darwinism, let them see the result...

[NYC]

7. Disasters also bring out the best in people.

Strangers helping strangers, much generosity and self sacrifice.

Some people are good; some people are bad.

[high density]

5. Why does the media call these people "investors?"

They are speculators.

[NorthernSpy]

8. where are the calls to shoot THESE looters on sight?

Just asking'.