A few days ago I wrote a blog piece on the indictment of the International Spam King, Alan Ralsky. At the time he was still at large somewhere in Europe and rumored to hand himself . The Detroit Free Press have just reported the following within the past hour:
Ralsky, 62, of West Bloomfield, was brought into U.S. District Court in Detroit in handcuffs, escorted into court by FBI and Postal Inspection Service agents who greeted him at Detroit Metro Airport upon his return from Germany. His lawyers had arranged his surrender.
He faces multiple charges, the most serious being “mail and wire fraud” which could cost him a maximum penalty of 20 years in prison and a $250,000 fine. This is because the spam ring he is involved with were responsible for buying cheap stock, then artificially inflating it’s price by promoting the stock in spam before selling it at a huge profit.