Spam King Alan Ralsky Pleads Guilty

Alan Ralsky, a 64-year-old Michigan man that federal investigators say was among the world’s top spam kingpins, pleaded guilty on Monday to running a multi-million dollar international stock fraud scam powered by junk e-mail.Ralsky and his son-in-law and chief financial officer Scott K. Bradley, 38, also of Michigan, pleaded guilty to conspiracy to commit wire fraud, money laundering and to violate the CAN-SPAM Act. Under the terms of his plea agreement, Ralsky faces as much as 87 months in prison and a $1 million fine, while Bradley could get as much as 78 months in prison and a $1 million fine under the federal sentencing guidelines. see:Spammer Ralsky Pleads Guilty to Stock Fraud [IDG]
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.

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