Fake Newspaper Stock Promotion: Washington Financial Times
I was alerted to this scheme by an alert colleague. Note the fake newspaper look, with content scraped (stolen, my guess) from legitimate news sources, including the New York Times. All in support of a long-form stock promotion of a penny mining stock, with a humongous disclaimer that is hilarious and sad.
Interestingly, it confirms the existence of the paid message-board pumper.
...IRS retains ownership of the WashingtonFinancialTimes.com and all WFT intellectual property. WFT expects to receive advertising revenue and new subscribers as a result of advertising efforts. We fully intend to sell shares into the marketing campaign of the profiled company, even as we speak optimistically about the future of the profiled company. IRS may buy and sell the Shares in the open market before, during or after the dissemination of the Information or at any time, which may cause significant volatility including drops in the price of the Issuer's stock price and/or significantly depress the Issuer's stock price. Readers may encounter difficulties determining what information contained in our publications is material or non-material making it all the more imperative that they conduct further investigation of the Profiled Company and its securities; and (q) IRS hires CTL Marketing Resources, a Service Provider to electronically disseminate live news regarding the Issuer, information which we do not independently provide to the Service Provider or verify and upon which we have no control over. We pay cash consideration to the Service Providers; no securities compensation is paid to the Service Providers; and (r) our employees post messages on their individual message boards as a method of disseminating the Information on behalf of our Issuer clients which should never be used as a means of conducting analysis into the Issuer...
The junk being hawked is Titan Iron Ore Corp.
Titan Iron Ore Corp. focuses on the acquisition of iron ore exploration and development mining properties. The company was formerly known as Digital Yearbook, Inc. and changed its name to Titan Iron Ore Corp. on June 15, 2011. Titan Iron Ore Corp. was founded in 2007 and is based in Lynwood, Washington.
$700,000 cash on the balance sheet, no business, and spending on ads. Anyone putting their money into this stock might as well just flush it down the terlit.