|
|
 |
|
|
Pages: 1
Teen can't seem to catch a break
(Click here to view the original thread with full colors/images)
Posted by: Tweaker
WASHINGTON (Reuters) - U.S. financial regulators said on Monday they had uncovered a fraudulent $1 million Internet securities scheme they alleged was run by a 17-year-old high school student. Cole Bartiromo defrauded 1,000 investors through a Web site and Internet bulletin board that promised guaranteed and risk-free investments, the Securities and Exchange Commission said in a statement.
Bartiromo, who lives with his parents in Mission Viejo, California, has settled the case and agreed to turn over about $900,000 of investor money he had transferred into an account he controlled at a Costa Rican casino, the SEC said.
Further litigation is pending regarding civil penalties, the SEC said. His lawyer did not immediately return calls for comment.
This only goes to show you that no matter how sophisticated and technological our society becomes there will always be a bunch of morons who dont check up on things before they throw money at it. This teen should be congratulated for exposing several of them.
Read the full story here.
Source: Reuters.com
Posted by: Dabom
Have another look at your title... 
Posted by: SKYHN
I thought most 17 year old kids ran investment sites....
|
|
|
|
|
