SEC slaps pump-n-dump spammers.

The SEC is taking action against pump-n-dump spammers Faisal Zafar and Sameer Thawani. Zafar and Thawani had customized their scams to take advantage of public fears over issues such as terrorism and bird flu. They were able to make over $873,000 in the scam.

The SEC announced a few days ago that they'd issued a temporary restraining order and froze the defendants' assets.

See press release: SEC Files Emergency Action to Stop Ongoing Microcap Stock Fraud; 2006-50; Apr. 6, 2006