Pump and dump schemes an all-American thing?

Was talking to a friend in Western Europe yesterday who was trying to track down a sleezy trader who is short-selling small-cap mining stocks and then trashing them online in a get-rich-quick scheme that seems to be working. Western Europeans appear not to be privy to this type of trading mentality, so they say. They can't get into his head because they said it's more of a North American phenomenon. Is it really an American thing, this pump and dump and unethical short-selling and trashing?

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