Current Status

This blog is not frequently updated because most case-by-case scam reports are now listed in subordinate blogs. At this point in time, most of my efforts are targeted at documenting employment scams in the Suckers Wanted blog.


Pump and Dump: PGCN

This stock-hype spam was sent to the same address as all the recent stock-hype spam I've received. There is further evidence to suggest that the same spammers are behind it, such as mention of the CWTD stock, and the fact that it's yet another Chinese organisation being pumped. I'm sure there's an at least slightly interesting story behind all this spam, but not so interesting that I'm going to try digging for it.

This spam was received from (WHOIS: delegated by "SBC E-Services - Irvine IDC" to "BRADCAL, Inc.", Cerritos, CA, USA) on Sat, 11 Jun 2005 05:18:39 -0000. I've dropped the "forward looking statements" disclaimer from the text below.

                                           HOT SHOT STOCK ALERT
                                      EXCITING  ISSUE PGCN  GET IN NOW!!!
                                       ONLINE OFFERING! Monday, June 13th

                                               SYMBOL:  PGCN

OTC Ticker: PGCN
Current Price: $1.01   (UP 0.49 (96.08%)
This stock is at its 52wk high today and the news is not even out yet!

  Pingchuan Summary:
Harbin Pingchuan Pharmaceutical Holding Co., Ltd. ("PINGCHUAN") (PGCN) was
established in March 2001 in Harbin city, P.R.China. It is a modernized
pharmaceutical manufacturer with first-class medical R&D ability, pioneered
medicine products, and well-established marketing network.

Harbin Pingchuan Traditional Chinese Medicine Research Institute was
established in June 1998, with a registered capital of US$120,000. Currently
it has 60 employees, 20 of them are professionals and experts on diabetes.
Functioning as the R&D base of PINGCHUAN, the institute focuses on R & D of
new medicines, particularly those on diabetes.

Since the establishment of 2001, PINGCHUAN has developed a series of
diabetes medicine, including antibiotics, chemical medical capsules and
traditional Chinese medicine. Kang Da Glycosuria Capsule is one of the
successful products of PINGCHUAN for treating diabetes. It was first
developed in 1998 and introduced to the market in 2001. PINGCHUAN also
produces medical intermediates and pharmaceutical preparations, medical
instruments, health care food and other related products.

PINGCHUAN has well-established marketing network and sale branches,
including about 180,000 retail pharmacies/drugstores across China, agency
network in major cities like Beijing, Shanghai, Guangzhou, and Xi'an,
special sales counter at drug chain stores in key regions, residence
community clinic sale and promotion, as well as internet marketing through
the company's website. The marketing network of PINGCHUAN covers more than
50% districts of China and exports to US, Japan, Russia, and south-eastern

CWTD in February 2004 at 90 cents before it went to $8.50, an increase of
800 PERCENT !! In March MAMA at 3.95 shortly before hitting a high of $13.30
over 400 PERCENT !!!  But We expect much more from PGCN, Sit back and watch.


Spotter said...

A substantially similar spam has arrived from ( on Tue, 14 Jun 2005 18:52:58 -0000.

Spotter said...

Another substantially similar spam arrived from ( on Wed, 15 Jun 2005 04:46:46 -0000. These guys are all over the place, and obviously utilising a zombie farm (collection of computers compromised by a common virus, or similar). This spam also had an additional block of text as follows.

Tuesday June 14, 10:00 am ET

HARBIN, China, June 14 Xinhua PRNewswire FirstCall
Pingchuan Pharmaceutical Inc. (OTC Bulletin Board: PGCN - News; ''PGCN'')
announced today that PGCN signed a Regional Distribution Contract with Beijing
Pingchuan Tianzhi Medical Technology Development Center (''TIANZHI''), a subsidiary
wholly invested by Pingchuan Pharmaceutical Inc