Rudy! Rudy! Rudy! Get Pumped… and Dumped???

Daniel “Rudy” Ruettinger, inspiration for the 1993 film bearing his nickname, was charged today by the SEC:

“The agency on Friday sued Mr. Ruettinger and 12 others in federal district court in Las Vegas, charging them with running a pump-and-dump investment scheme in 2008 that reaped more than $11 million in illicit gains.

Eleven of the defendants, including Mr. Ruettinger, settled the charges without admitting to or denying the accusations. Mr. Ruettinger agreed to pay $382,866 and accept a ban on participating in any penny-stock offering or serving as a director or executive of a public company.”

Talk about good guys gone bad.  Jeezus.  It gets a little dusty in the Dynamite household every time I watch that final climactic scene of Rudy, where the ultimate underdog gets his shot and hammers out a game ending sack:

 

 

But now, all I can think about is Rudy running pump and dump stock manipulation schemes… Oy vey.

You can read the entire lawsuit over at Dealbook.

-KD

Kid Dynamite is a participant in the Amazon Services LLC Associates Program, an affiliate advertising program designed to provide a means for sites to earn advertising fees by advertising and linking to Amazon.com. If you click on my Amazon.com links and buy anything, even something other than the product advertised, I earn a small commission, yet you don't pay any extra. Thank you for your support.

The information in this blog post represents my own opinions and does not contain a recommendation for any particular security or investment. I or my affiliates may hold positions or other interests in securities mentioned in the Blog, please see my Disclaimer page for my full disclaimer.

blog comments powered by Disqus
Kiddynamitesworld Blog