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http://detroit.fbi.gov/dojpressrel/pres ... 062209.htm

WASHINGTON—Five individuals pleaded guilty today in federal court in Detroit for their roles in a wide-ranging international stock fraud scheme involving the illegal use of bulk commercial e-mails, or “spamming,” announced Assistant Attorney General of the Criminal Division Lanny A. Breuer and U.S. Attorney for the Eastern District of Michigan Terrence Berg.

Alan M. Ralsky, 64, of West Bloomfield, Mich., and Scott K. Bradley, 38, also of West Bloomfield, both pleaded guilty to conspiracy to commit wire fraud, mail fraud and to violate the CAN-SPAM Act. Ralsky and Bradley also pleaded guilty to wire fraud, money laundering, and violating the CAN-SPAM Act. Under the terms of his plea agreement, Ralsky acknowledges he is facing up to 87 months in prison and a $1 million fine under the federal sentencing guidelines while Bradley acknowledges that he is facing up to 78 months in prison and a $1 million fine under the federal sentencing guidelines.

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That guilty plea is actually to get him a reduced sentence, in view of his cooperation with the investigation. That's got to have a lot of other spammers nervous. They tend to work in groups as far as one trades the stock and another mails the spam, etc., rather than a single person running a scam start-to-finish.

There's been a long delay since Ralsky's arrest, with plenty of time for him to be providing assistance to the feds.

I remember many years back a friend was bragging on his "new chips" that let him get satellite TV for free. He wasn't so impressed when the fellow selling the chips traded his customer list for a reduced sentence.

No crook in his right mind doesn't plan for ratting out his buddies to get less jail time when he is finally caught.