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Spammer sued by SEC

Didn't he commit some sort of crime? I thought fraud was illegal. It doesn't appear he's being charged or tried for anything. He should be doing time.
 
Originally posted by: HappyPuppy
Didn't he commit some sort of crime? I thought fraud was illegal. It doesn't appear he's being charged or tried for anything. He should be doing time.
Click to expand...

Uhh....from the first line in the article:

Regulators filed fraud charges Monday

And...further in the article:

[Smith] didn't admit to or deny the allegations, but agreed to a settlement requiring him to return $107,510 of gains and interest, and barring him from future violations
 
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