STRATTON OAKMONT | PENNY STOCKS FRAUD AND MONEY LAUNDERING
Does the “The Wolf of Wall Street” ring any bells? Well, the movie was inspired by the real-life events and frauds conducted by Stratton Oakmont, a Long Island trading company that used the “pump and dump” trading scheme to earn hundreds of millions of dollars. More than 1,500 individual investors were squeezed of around $200 million dollars.
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