IWETHEY v. 0.3.0 | TODO
1,095 registered users | 0 active users | 0 LpH | Statistics
Login | Create New User
IWETHEY Banner

Welcome to IWETHEY!

IWETHEY Home / IWETHEY Board / Money, Financials, and Economics Forum / What does "fake" mean in finance?
Post #396,726
by drook
Picture of drook
12/1/14 10:48:57 AM
Reply
New What does "fake" mean in finance?
http://www.rantlifestyle.com/2014/09/21/20-killer-kids-that-will-give-you-chills/?utm_medium=referral&utm_source=Outbrain&utm_term=Title3#slide_35

4. Johnathan Lebed
At 15 years old, he created fake accounts on stock market tip websites, gave people fake advice to buy stocks he just bought cheap, driving the price way up, and then selling them at a profit. After he was $800,000 up, the SEC tried to nail him -- and his parents defended him, saying he wasn't a criminal, just smart. After a massive lawsuit from his parents, the SEC just walked away, settling for $250,000 -- that he got to keep.

The accounts were real, though the user details were apparently not. The advice was clearly real: he was advising them to buy.

What exactly was his crime?
--

Drew
Post #396,732
by mmoffitt
12/1/14 1:08:16 PM
Reply
New Emulating a Yankee from the Worthless Thumb should be a crime.
Post #396,745
by Ashton
12/1/14 4:34:29 PM
Reply
New ..In your dreams.
Nobody can ever, Ever understand information from which it may be seen: exactly why his employment should be dismantled.
So soon we reformers elide our recollection {sigh} of that hoary koan..
N'est ce pâs?

Next week: the voluntary steps via which the world's homo-sap population shall resolve to Make Fewer Babies
--for just plain Goodness (and bonus: planetary survival--for the worry-warts.)

Hey! I'll sign, but, y'know.. ...
Post #396,750
by a6l6e6x
Picture of a6l6e6x
12/1/14 6:04:48 PM
Reply
New A "pump and dump" scheme executed under an alias.
Alex

"There is a cult of ignorance in the United States, and there has always been. The strain of anti-intellectualism has been a constant thread winding its way through our political and cultural life, nurtured by the false notion that democracy means that "my ignorance is just as good as your knowledge."

-- Isaac Asimov
     What does "fake" mean in finance? - (drook) - (3) - Dec. 1, 2014, 10:48:57 AM EST
         Emulating a Yankee from the Worthless Thumb should be a crime. -NT - (mmoffitt) - (1) - Dec. 1, 2014, 01:08:16 PM EST
             ..In your dreams. - (Ashton) - Dec. 1, 2014, 04:34:29 PM EST
         A "pump and dump" scheme executed under an alias. -NT - (a6l6e6x) - Dec. 1, 2014, 06:04:48 PM EST

And on mic: the l-l-lovely... Cher!
65 ms