21. However, no actual shares were bought or sold : all trading was between the bucket shop and its clients. 22. For example, state regulators were the first to warn investors about microcap fraud and shut down many bucket shops . 23. Investigators estimate the two men have raised hundreds of millions of dollars through " bucket shops " peddling stocks worldwide. 24. Speculation was Livermore's game from his first teen-age gamble in the dubious bucket shops of Boston in the early 1890s. 25. In 1911, Cella and his investment partners were acquitted of all charges, after the Anti-Bucket Shop Act was declared unconstitutional. 26. He or she could go to bucket shops , which offered the ability to bet while putting up hardly any money. 27. This bucket shop sub-culture, operating virtually free of any regulation, will grow into a national disaster if Congress does not act quickly, 28. The bucket shop 's exchange is a fiction, which the parties agree to imagine as following the events occurring in a real exchange. 29. Investors should beware of the infamous bucket shops that push whatever offerings are available, and avoid tiny deals done by unseasoned firms. 30. But Klayman said : " Whether you're doing business at a major firm or at a bucket shop , the mentality is the same.