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For another promotion, Alexander Hunter purchased 21,000 shares for 16 cents, pumped the price up to 51 cents and sold the shares for a profit of less than $6,000. He videotaped the trading and used the footage to promote the newsletter, the SEC said. Marl, the fictional robot's name, was a combination of the names of its supposed creators: Michael Cohen and Carl Williamson. The Hunters claimed that Cohen had developed a Goldman Sachs trading model that generated more than $4 billion in annual trading profits. Goldman never employed a Michael Cohen for that kind of work, the SEC said. The Hunters' skills apparently did not include computer programming. In 2007, they advertised for programmers who could make "a small software program which will appear to the user that once running it is analyzing thousands of penny stocks," according to the SEC's complaint. In a note marked "IMPORTANT," they added: "This software does not actually find stocks at all. . . . Basically this is almost a `fake' piece of software and needs to simply appear advanced."
[Associated
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