‘Godfather Of Spam’ Hit With Four-Year Prison Sentence
“Godfather of Spam” Alan Ralsky was sentenced to more than four years in prison by a U.S. District Judge in Detroit for spearheading an e-mail stock scam that defrauded victims and violated the CAN SPAM Act, according to court documents.
Ralsky, 64, of West Bloomfield, Mich., along with his son-in-law, Scott Bradley, 48, were sentenced for heading an illegal spamming scheme designed to artificially inflate stock prices and profit by trading in those stocks once their share prices increased.
In addition to his sentence, Ralsky faces five years of supervised probation and a $250,000 fine for conspiracy to commit wire fraud, mail fraud and violation of the CAN-SPAM Act.
Bradley was sentenced to more than 3 years in prison, as well five years of supervised probation, for committing wire fraud, engaging in money laundering and violating the CAN-SPAM Act, according to court documents.
Read more: crn.com