A fraudulent brokerage operation in which orders to buy and sell are accepted but no executions take place. Instead, the operators expect to profit when customers close out their positions at a loss.
A business, such as a travel agency, that buys unsold tickets and resells them at a discount.
American Heritage(R) Dictionary of the English Language, Fifth Edition. Copyright (c) 2011 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company. All rights reserved.