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CNBC Million Dollar Challenge Contested
David Utter
Staff Writer
2007-06-25
 Insider Reports RSS Feed
Various stock-related shenanigans may have influenced the results of a contest on CNBC, with a $1 million prize at stake.
 | | CNBC Million Dollar Challenge Contested |  |
Investigators working with CNBC have been searching for clues about possible rules violations of their Million Dollar Portfolio Challenge. Automated scripts and outright stock manipulation have been mentioned as areas of interest in the contest.
The contest ended on May 25, but CNBC received several complaints from its contestants. They alleged unusual trading took place. CNBC said they are looking into three "specific area of concern":
• One or more finalists may have used a script to bypass security measures for the contest;
• Some contestants were able to make after-hours trades and take advantage of price differences before CNBC could process them;
• Accusations of illegal market manipulation have been raised.
CNBC originally planned to award the million dollar prize on July 8. Company executives hope to meet that deadline, but want to ensure the winner ends up being someone who followed the contest's rules.
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Tag: CNBC
About the Author:
David Utter is a business and technology writer for SecurityProNews and WebProNews.
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