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attendees of his financial workshops "learn from the master" by seeing what securities Cook bought and sold. Gaining access to "Wade's Trades" was touted as one of the major advantages of attending these seminars. Subscribers to Wade's Trades could purchase the same securities that Wade Cook purchased and theoretically, could duplicate his results. The bulletin board often recommended the securities of obscure corporations or options in which there was a fairly small market. When Cook's students began purchasing these investments, they tended to drive up the price. Initial purchasers could then liquidate their own positions in these investments at a profit, thus proving to Cook's students that he had a talent for picking securities that were poised to go up in value. Unfortunately, the increase in the value of the securities was often short-lived; since the price would be driven back down as students began to sell their positions. If most of the activity in the recommended securities was due to transactions by bulletin board subscribers, it is reasonable to conclude that at least some of these investment recommendations would become self-fulfilling prophesies.
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134:. Cook said that as a cab driver he learned that money was made every time the meter dropped, and that it was better to take many small fares rather than one big one. This translated to Cook's short-term investment strategy of buying and selling many stocks for smaller, quicker profits rather than buying and holding securities for an extended period in the hope that they will increase greatly. He charged US$ 5,695 per person for "Wall Street Workshops" that were offered across the United States.
114:, was originally self-published in 1981. He filed for personal bankruptcy in 1987. An updated version of his book was published in 1996. His company was liquidated in 2003 after it had been forced into Chapter 11 bankruptcy by creditors, and he served 88 months in prison for tax evasion. He offered trading advice through his website and publications for a period after his release from prison.
234:, preceding transfer to a prison where he was to serve the remainder of his 88-month sentence. He was released from the Federal Satellite Prison Camp Sheridan in Sheridan, Oregon in April 2014 into the custody of the Pioneer Fellowship House in Seattle, Washington, and was released January 22, 2015, according to the federal prison system online search.
130:(stocks that regularly vacillate between "predictable" highs and lows) and has been very vocal about stock splits being a good way to make money, claiming that many stocks rose post split (since the end of the 1990s bull market, Cook became less of a proponent of this concept). One of his more famous phrases was
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In the 1990s, Cook was aggressive in his use of paid radio programs which he used to market investment seminars. He claimed he could teach people to double some of their money every 2.5 to 4 months. Obviously this claim was controversial, and there was eventually an agreement with the government to
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and 14 state
Attorneys General on charges that the corporation misrepresented earnings potential. WCFC claimed 20% monthly returns. As a result, WCFC was required to set up redress program for consumers who purchased its products and to alter its advertised earnings claims. In 2002 the FTC brought
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In 2000, WCFC, a company which sold seminars on investing and offered subscriptions to a trading bulletin board service called the Wealth
Information Network (W.I.N.), posted US$ 1.7 million in trading losses. The stated purpose of posting the bulletin board information about these trades was to let
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bankruptcy by a group of its creditors, including several employees and independent contractors, who claimed they had not been paid for several months. U.S. Bankruptcy Judge Thomas Glover ordered the company liquidated on
January 18, 2003, for failure to provide testimony creditors had requested.
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On
February 20, 2007, Cook was found guilty by a federal jury of seven charges for failing to pay taxes on $ 8.9 million that the government says he should have reported as personal income from 1998 to 2000. His sentencing was set for June 22, 2007. On May 16, 2007, Laura Cook pled guilty to
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On August 2, 2007, Cook was sentenced to 88 months in prison, and Laura was sentenced to 18 months in prison. Cook was also ordered to pay back $ 3.75 million in owed back taxes. On
September 4, 2008, Cook was taken into custody at the
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In
December 2005, Cook and his wife Laura were charged with several counts of income tax evasion. Both pleaded not guilty. According to court documents, the Cooks operated a fraudulent charity, ostensibly to benefit the
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for around "a penny a share". After the bankruptcy of WCFC, Cook kept a considerably lower profile, using the internet as his primary means of marketing. He continued writing books and launched a
110:(October 9, 1949 – July 28, 2021) was an American author and self-proclaimed financial guru. Cook claimed to have started his success when he was a taxi driver in the 1970s. His first book,
222:, a 40-acre (160,000 m) estate, and the majority share of an oil rig which gave Cook the right to name it. He named it after himself. The trial began on January 17, 2007.
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to create a financial seminar. Robbins agreed that he had read the book and met with Cook, but disputed the illegality of his use of the concepts. A jury in
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371:"Wade Cook: Guru Of Get-Rich-Quick -- He Insists He's Trying To Help The Little Guy, But Federal, State Regulators Beg To Differ"
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164:. Two companies he controlled, American Business Alliance and Monarch Funding Corporation, also went bankrupt that year.
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After his release from prison, Cook began selling the same literature he was selling for years before being imprisoned.
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In 2002, Cook's company, Wade Cook
Financial Corporation (WCFC), filed for bankruptcy. The stock now trades on the
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charged him with several criminal counts, including selling unregistered shares of a company he controlled.
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over his claim that
Robbins had illegally used concepts (particularly the "meter drop") from Cook's book
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obstructing federal tax laws and faced up to three years in prison and a fine of up to $ 250,000.
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On
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and has been known to use references to religion in his writings and presentations.
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Stock-trading guru Wade Cook found guilty of seven of eight criminal counts
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Wade Cook headed to prison a year and a half after being convicted
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sided with Cook and awarded damages in the amount of US$ 655,900.
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new charges based on failure to comply with the previous order.
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In 1989, Cook was charged with securities violations by the
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Trade-In: Wade Cook Posts $ 1.7 Million in
Trading Losses
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and tools are available to assist in formatting, such as
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In 1998, Cook won a settlement against self-help author
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http://www.pinksheets.com/quote/quote.jsp?symbol=WADCQ
663:Stock guru Wade Cook to go on trial next January
640:by Rich Duprey LINK NOT TO RICH DUPREY ARTICLE"
465:. Puget Sound Business Journal. October 1, 1998
150:the Church of Jesus Christ of Latter-day Saints
232:Federal Detention Center in SeaTac, Washington
218:, but instead bought show horses, his and her
8:
38:, which are uninformative and vulnerable to
721:Former stock guru found guilty of tax fraud
53:and maintains a consistent citation style.
95:Learn how and when to remove this message
579:"Wade Cook Financial Ordered Liquidated"
920:American people convicted of tax crimes
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552:Wade Cook Financial Ordered Liquidated
461:Jury Hands Wade Cook Copyright Victory
245:Cook died of cancer on July 28, 2021.
529:"FTC News Release, February 21, 2002"
408:The Magic and Majesty of Wade B. Cook
291:Wall Street Money Machine (Vols. 1-5)
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870:"Obituary information for Wade Cook"
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508:"FTC News Release, October 5, 2000"
306:Cook's Book on Creative Real Estate
45:Please consider converting them to
16:American financial guru (1949–2021)
775:Wade Cook gets 88 months in prison
341:Wade Cook's Stock Picking Handbook
14:
717:Bowermaster, David (2007-02-21).
688:Bowermaster, David (2007-02-20).
614:Wade, Laura Cook deny tax charges
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900:synopsis of the 2000 settlement
798:"Seattle Post-Intelligencer -
773:"Seattle Post-Intelligencer -
748:"Seattle Post-Intelligencer -
612:"Seattle Post-Intelligencer -
205:In 2002, WCFC was forced into
169:Arizona Corporation Commission
49:to ensure the article remains
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750:Laura Cook admits tax charges
659:DeSilver, Drew (2006-03-03).
638:Wade Cook Faces Fraud Charges
432:Is Wade Cook's Recipe Kosher?
369:Batsell, Jake (1998-11-15).
266:Don't Set Goals: The Old Way
156:Financial and legal troubles
796:Richman, Dan (2008-09-04).
771:Richman, Dan (2007-08-02).
746:Richman, Dan (2007-05-16).
610:Richman, Dan (2006-02-23).
336:Two Bad Years and Up We Go!
301:Real Estate for Real People
286:How to Pick Up Foreclosures
171:. The following year, the
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940:American Latter Day Saints
898:Federal trade Commission's
346:Stock Market Money Machine
148:Wade Cook was a member of
256:Real Estate Money Machine
184:Wall Street Money Machine
112:Real Estate Money Machine
326:Wade Cook's Power Quotes
199:Federal Trade Commission
173:Arizona Attorney General
126:Cook was a proponent of
331:Red Light, Green Light
296:Blueprints for Success
276:Business Buy the Bible
558:The Los Angeles Times
550:"Los Angeles Times -
261:Stock Market Miracles
440:on December 16, 1999
321:Safety 1st Investing
281:Brilliant Deductions
160:In 1987, Cook filed
145:investment program.
846:"WIN and Wade Cook"
271:Bear Market Baloney
162:personal bankruptcy
874:www.yahnandson.com
531:. 21 February 2002
249:Books by Wade Cook
188:Tacoma, Washington
905:bankruptcy filing
727:The Seattle Times
719:"Seattle Times -
698:The Seattle Times
690:"Seattle Times -
669:The Seattle Times
661:"Seattle Times -
583:Los Angeles Times
488:by Dan Colarusso"
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935:2021 deaths
930:1949 births
826:www.bop.gov
143:multi-level
139:pink sheets
914:Categories
879:2024-06-15
855:2016-05-27
831:2016-05-27
807:2009-01-04
782:2009-01-04
757:2009-01-04
732:2009-01-04
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469:2007-04-13
444:2009-01-04
415:2009-01-04
380:2016-05-27
353:References
311:Wealth 101
216:LDS Church
207:Chapter 11
132:meter drop
118:Background
51:verifiable
591:0458-3035
220:Cadillacs
36:bare URLs
40:link rot
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241:Death
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