Couples' pillow talk fraud
Date: August 29, 2007Source: NEWS.com.au
The Securities and Exchange Commission has this year announced investigations into seven cases involving married couples. In 2006 there was one.
In some cases regulators have accused couples of working together to execute allegedly illegal trades, and in others, one spouse stands accused of misappropriating confidential information from the other and using it to turn a quick profit.
"In some cases the lure of instant profits can prove too much for people and they decide to take the risk," the commission's chief of internet enforcement John Stark said.
"In other cases it's a real scheme. We've found both those situations with couples. The technology is getting better and better for catching people. Some people obviously believe they can use different names but the reality is we will catch you."
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