Penny Stock Company Hoodwinks Media

CJR Daily's once-horrid "Audit" section does it again, with a great article about a penny stock company called Brilliant Technologies Corporation.

The Audit says it "made several business-news desks look silly recently when they credulously reported an announcement by its Qtrax unit that it had signed a deal with all four major-label record companies to give consumers all the music they wanted—free—through an advertising-supported format."

"Great story," says the Audit, "if true. Except it wasn’t."

Not bad at all for the Audit, which not too long ago used to list naked shorting conspiracy websites -- run by penny stock promoters -- on its list of recommended websites.

© 2007 Gary Weiss. All rights reserved.