The Manhattan U.S. Attorney’s office has charged several longshoremen with enticing investors to buy stocks via Facebook and Twitter in a classic “pump and dump” fraud scheme.
This was apparently a side business that the dock workers engaged in when they weren’t busy trafficking 1.3 tons of cocaine worth $34 million through the Ports of NY and NJ.
Anyone who has seen On the Waterfront or HBO’s The Wire knows that longshoremen are a chronically underemployed bunch always getting themselves into trouble. If you’re looking for crappy investment advice from a foul mouthed trader with a history of stock manipulation, stick with Jim Cramer.
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