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InvestSource Inc. OTCBB Rips Off Thousands Of Investors

By Todd Dornan

The SEC announced last month scam charges against InvestSource Inc. Essentially what they did was they were provided a lot of shares in thinly traded stocks on the pink sheets or perhaps the OTCBB by companies that hired them to market stocks. They pumped those companies to push the price up, which they then sold into the upward move and left people who bought on their stock advice hosed.

Guys, that is why I am so in opposition to OTCBB and pink sheet stocks. If it was up to me, I would eradicate these shadowy markets forever. I can’t believe in the legitimacy of the pink sheet and OTCBB markets.

I myself was the sufferer of a con by Jim Turek in the company Plasticon. I still have a pain in my breasts and an empty feeling in my abdomen to this day just thinking about it. But I go through the physical pains to re-tell my story with the intention that others are not conned out of their life savings like I was.

If you attempt to go to the InvestSource Inc. site, you will see that it is closed down.

Here I will discuss something more important I believe the SEC should do. I do think the SEC should investigate any web site or blog that widely distributed content articles from InvestSource. As an example, TradingMarkets published quite a few pump and dump content from InvestSource on their website. The truth is, it’s safe to say that several thousand traders were conned out of their cash from reading articles published on TradingMarkets. What’s the connection that TradingMarkets had with InvestSource? Was TradingMarkets paid by InvestSource from the profits made from the pump and dumps ripoffs they ran? If so, shouldn’t TradingMarkets return some of that money to sufferers of the numerous pump and dump ripoffs ran by InvestSource?

The truth is, if you cast a larger net and begin making websites liable that publish these scams, perhaps they will quit advertising pink sheet and OTCBB stocks.

I am of the view that any well-thought-of internet site will say no to thinly traded OTCBB and pink sheet content articles. The actual fact that it is a thinly traded stock should trigger off the this isn’t honest alert in website owners brains. With thinly traded stocks, the temptation to try to adjust the price to your benefit is just too great.

I do not allow any OTCBB or pink sheet stocks to be talked about on my blog. I have turned off the complete blog comment system because of spammers attempting to pump their penny stocks at the rate of 20 to 50 a day. I don’t permit what are known as ‘profile’ content articles about these thinly traded companies. I don’t permit comments posted on my Facebook wall or Youtube profile that talk about these companies. The idea is that if I feel I can move a stock or have an effect on its direction, then I’m not going to speak about it or allow someone else to use my website or social 2.0 sites to speak about it. The ethical standard for trading blogs and websites ought to be above price manipulation and if there is even a doubt, an editor must not allow an article or story to be published.

Sadly, it’s not just TradingMarkets that ran InvestSource pump and dump articles. GlobeNewsWire ran their articles and even had this to say about the company, “InvestSource Inc. is an investor relations firm headquartered in Irvine, CA that specializes in bringing in project specific market opportunities to the investing public. Working closely with our client companies, InvestSource showcases the latest financial and market news as it happens.” HighBeam Research posted content articles from them under the headline of “Coverage Alerts”. Perhaps HighBeam represents the searing heat from the laser that’s going to burn a hole in your wallet if you follow their picks. Even worse, an online site called AccessMyLibrary ran posts from them with the tag line close to their logo, “Search Information That Libraries Trust”. Certainly they have to think again about the definition of trust. I could truthfully continue with many hundreds of websites that helped InvestSource Inc. rip-off investors.

What encourages investors into OTCBB and pink sheet stocks is greed. If I buy a stock at $.01 and when it goes to $1 I’ll be loaded! The reality is that they never go to $1. And those that do are so rare, you’d have better odds at winning the sweepstakes than hitting one of them. That is why you should not concentrate on greed. The emotion of greed helps prevent rational, logical thinking from happening. What you ought to focus on is risk minimization. How do I lower the potential risk of loss in my next trade? The answers are apparent. Require full disclosure of a company’s financials before investing anything. Not incomplete disclosure but the same degree of disclosure and accounting standards that are required for a listing on a major index. While you’re reading fantastic things about a company, look at the average daily volume. Is it thinly traded? Is it traded on the OTCBB or pink sheets? If the answer is yes then chances are somebody is running a pump and dump scam. Don’t forget, a company is traded on the OTCBB or pink sheet markets for a reason. There is a reason they aren’t traded on a major exchange. Do they not release well-timed quarterlies? Are they behind on whatever financials they do release? Find out the reason and you will see its not a stock you’d want to purchase. If a company was really good enough for your money, they would be trading on a major exchange.

I shouldn’t need to explain to you its a wicked universe out there for investors. Learn more at InvestSource Inc. OTCBB

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Article Citation
MLA Style Citation:
Dornan, Todd "InvestSource Inc. OTCBB Rips Off Thousands Of Investors." InvestSource Inc. OTCBB Rips Off Thousands Of Investors. 22 Aug. 2010. uberarticles.com. 11 Jun 2017 <http://uberarticles.com/miscellaneous/investsource-inc-otcbb-rips-off-thousands-of-investors/>.

APA Style Citation:
Dornan, T (2010, August 22). InvestSource Inc. OTCBB Rips Off Thousands Of Investors. Retrieved June 11, 2017, from http://uberarticles.com/miscellaneous/investsource-inc-otcbb-rips-off-thousands-of-investors/

Chicago Style Citation:
Dornan, Todd "InvestSource Inc. OTCBB Rips Off Thousands Of Investors" uberarticles.com. http://uberarticles.com/miscellaneous/investsource-inc-otcbb-rips-off-thousands-of-investors/


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