I've never heard this but I know why people may believe this. People go to SEO forums to learn about SEO and the first thing many forums will tell you is to use a signature to help boost your # of backlinks. Well some people go crazy when they hear about this and they go to forums (especially SEO forums) and create keyword rich signatures to try and boost their rankings and PageRank.
I've been to some of the popular SEO forums in the past and some of the signatures are out of this world. For example, if someone's site is about sugar cookies, the signature may look like this...
sugar cookies sugar cookies and more sugar cookies. Get the best sugar cookies in the world at this sugar cookie site.
You may not get penalized, but these links may just be ignored when it comes to calculating your backlinks and determining your PR.
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