Spammer Alan Ralsky Pleads Guilty to Federal Charges
Ben Schmitt writes in The Detroit Free Press:
International spam king Alan Ralsky pleaded guilty this afternoon in U.S. District Court in Detroit to charges of violating federal anti-spam laws by sending millions of emails in a stock-fraud scheme.More here.
A 41-count indictment last year said Ralsky, 63, of West Bloomfield; his son-in-law, Scott Bradley, 47, also of West Bloomfield, and nine other people used unsolicited e-mail to pump up the price of penny stock in Chinese companies to artificially high prices and then sold it, reaping huge profits for themselves and leaving Internet subscribers who purchased it holding the bag.
Bradley also pleaded guilty today in front of U.S. District Judge Marianne Battani along with three other people who were involved in the conspiracy.
“Alan Ralsky was at one time the world’s most notorious illegal spammer,” U.S. Attorney Terrence Berg said after the plea.
“Today Ralsky, his son-in-law Scott Bradley, and three of their co-conspirators stand convicted for their roles in running an international spamming operation that sent billions of illegal e-mail advertisements to pump up Chinese ‘penny’ stocks and then reap profits by causing trades in these same stocks while others bought at the inflated prices.”