Alan Ralsky, a spam kingpin who was convicted of felony bank fraud in 1995, could face more than seven years in prison after pleading guilty in a stock fraud case involving spam messages that pumped up Chinese “penny” stocks.
Ralsky and four other individuals pleaded guilty on Monday, joining three others who had pleaded guilty earlier, the U.S. Department of Justice announced Monday. Cases are still pending against three other people, they said. The defendants were indicted in the Eastern District of Michigan in 2007. Read the full story [pcworld.com]