Penny Stocks Defrauder Returns to Society
January 9, 2011
January 09, 2011 (PennyStocksCapitalist.com)
In the late 1980s and early 1990s there was a man who defrauded many out of their hard-earned money in the penny stocks arena. His name is Robert E. Brennan and he milked investors out of millions of dollars.
After running from the government, he was caught and put in prison. It’s been ten years and Brennan is now a member of society. According to sources, he was working at RKE Athletic. He’s since quit and his future plans are unknown.
Brennan used to run boiler rooms, namely First Jersey Securities. His commercial featured him in front of a helicopter, living the lavish life and asking would-be investors to “come grow with us.”
His life’s story serves as a reminder of the “pump and dump” swindling that remains a part of the financial sector. As for Brennan, he has over $100 million in judgments against him at last count. In the 1990s, the SEC won a $75 million judgement against him and collected $29 million of that. According to an agency spokesman, they intent to collect the full amount.
Penny Stocks Trading Question #1
January 7, 2011
As part of a new series on Penny Stocks Capitalist, we’ll be posting answers to questions we frequently receive or see out there in penny stock land. If you have a question about anything related to penny stocks, please email QA@pennystockscapitalist.com.
Q: Hey guys, can you give me some quick advice about how to start investing in penny stocks? I have a little bit of money (not a fortune like those guys on CNBC). Are there books I should buy or what? Thanks!
A: First off, welcome to the profitable land of penny stocks. As with anything progress always involves risk, so my first piece of advice is to never use capital you are prepared to lose. This is extra true for penny stocks.
Your first move should be to sign up to our free penny stocks newsletter. When you do, you’ll get a PDF sent to you that has a lot of great starter information.
Next, you need to open an account with a broker. We did a review of Scottrade you might be interested in. I recommend going with someone like them to get started. You can always switch later when you figure out what you want in a broker.
After that, make sure you read many of the articles on Penny Stocks Capitalist. By doing just that, you’ll get a better start than most people who spend thousands on books and videos.
