Goldmark
Industries, Inc., a producer and distributor of urban music, feature films, and
television was suspended this week by The Securities and Exchange Commission (SEC)
due to their recent and repeated spam E-mail campaigns. Goldmark
Industries, Inc. was one of 35 companies to be suspended in an operation the SEC
has dubbed “Operation Spamalot”. The
spam E-mails have been responsible for generating dramatic spikes in share price
causing investors to lose money. "When
spam clogs our mailboxes, it’s annoying,” said SEC Chairman Christopher Cox
in a press release. “When it rips off investors, it’s illegal and destructive.
Today’s trading suspensions, and actions that will follow, should send a clear
message to spammers: the SEC will hold you accountable." With
E-mails boasting, “[Goldmark] is making everyone bank!", the SEC had
issues regarding adequacy and accuracy of Goldmark Industries, Inc. and the other
34 companies. “While
the Commission cautions investors not to make investment decisions based on anonymous
E-mails they receive, we are also committed to tracking down those who prey on
investors with false or misleading information," said Director of the SEC’s
Enforcement Division Linda Chatman Thomsen in a press release. A
little less than a year ago Goldmark Entertainment named Latino rapper Frost aka
Kid Frost as Vice President of Music for Goldmark Entertainment. Frost
who was one of the first bilingual rappers to attain success in the Hip-Hop industry
has helped pave the way for many other Latino rappers including Fat Joe, Cypress
Hill, and Big Pun. Goldmark
recently signed producer Scoop Deville, who produced Baby Bash’s single "Mamacita,"
as well as singles for Linkin Park and upcoming music from Cypress Hill.The
trading suspension will only last 10 days.A
disclaimer on the Goldmark Industries, Inc. website states, “Goldmark Entertainment
does not engage in any blast fax or E-mail campaigns directly as a company, nor
indirectly through third parties.”
