The dot-com bubble, considered one of history's most malodorous stock market runups/rundowns, began around 1997 and lasted until March of 2000, when wildly absurd valuations peaked and the bubble burst. During the bubble period, a company only had to attach .com to its name — say, Horsemanure.com — and the stock would zoom.
But justice hardly moved as rapidly as those stocks. In September of this year, San Diegan Anthony Knight was told by a New York federal judge to pay $5.33 million for his role in a Long Island–based dot-com named iShopNoMarkup.com. His transgressions were committed between fall of 1999 and summer of 2000. According to the Securities and Exchange Commission, Knight and others offered unregistered securities to 350 investors who had put in $2.3 million.
The securities agency first made its charges in 2004. Ten years later, a jury ruled in favor of the agency. It took another year for a judge to render his judgment. Knight had lived in Great Neck, New York, at the time of the stock runup but later moved to San Diego. Knight also goes by the name of Ali Haghighi.