Jeremy Jaynes got 9 years for spamming, will shareholders get restitution from his $24 million?
Spammer got rich, but price is prison
“… During the trial, prosecutors focused on three products that Jaynes hawked: software that promises to clean computers of private information; a service for choosing penny stocks in which to invest; and a “FedEx refund processor” that promised $75-an-hour work but did little more than give buyers access to a Web site of delinquent FedEx accounts.
Jaynes, going by Gaven Stubberfield and other aliases, had established a niche as a pornography purveyor, said Assistant Attorney General Russell McGuire, who prosecuted the case. But Jaynes was constantly tweaking and rotating products.
Relatively few people responded to Jaynes’ pitches. In a typical month, prosecutors said during the trial, Jaynes might receive 10,000 to 17,000 credit card orders, thus making money on perhaps one of every 30,000 e-mails he sent.
But he earned $40 a pop, and the undertaking was so vast that Jaynes still could pull in $400,000 to $750,000 a month, while spending perhaps $50,000 on bandwidth and other overhead, Mr. McGuire said.
“When you’re marketing to the world, there are enough idiots out there” who will be suckered in, Mr. McGuire said in an interview.
Prosecutors believe Jaynes had a net worth of up to $24 million, and they described one of his homes as a mansion, though the e-mail came from a house described as average. ...”
This is a very intestesting article.
Jaynes was “partner” in Beyond Fitness (misrepresented as Absolute Health & Fitness) since early 2003, then got arrested late last year, and now was sentenced to 9 years. But, it sounds like he’s appealing. Is he out and about?
Still sitting on $24 million?
Are defrauded shareholders going to get some refunds?
Comments:
I sure hope so - Rohm and Sampson bought multi million dollar homes. *** Absolutely NO SPAM! A $50 handling and removal fee applies to each advertisement and occasionally I feature an advertised site as the scam it is.
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