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Old 10-28-2010, 01:08 PM
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Default Long Beach man indicted on federal fraud charges for promoting 'pump and dump' of publicly traded company

A federal grand jury Wednesday named a Long Beach, Calif., man in an 11-count indictment that accuses him of running a "pump and dump" scheme that allowed him to artificially generate market demand for a penny stock issued by a sports drink company.

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