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'Pump and dump' stock scam bilks investors out of $30 million




Pamela Anderson appears in an ad for FrogAds.com.
Pamela Anderson appears in an ad for FrogAds.com.
FrogAds.com

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Have you seen this ad? Yes, that’s Pamela Anderson of Baywatch fame, shilling for the company FrogAds. They and a few other companies got in trouble with the Feds this week for a stock scheme, known in the biz as a classic "pump and dump." Federal agents arrested 14 people this week, including  a former deputy district attorney.

RELATED: Read the DeBord Report's post on this scam

We should mention, Anderson is not suspected of any wrongdoing, but she was promoting a company called FrogAds. What do we know about how they figure into this scheme?

Here to explain how Southern California and, yes, Pamela Anderson, fit into this is Howard Lindzon, CEO of Stocktwits.