Does anyone remember Jonathan Lebed

Discussion in 'Stock Message Boards NYSE, NASDAQ, AMEX' started by Tiptopptrader, Apr 30, 2016.

  1. Tiptopptrader

    Tiptopptrader Well-Known Member

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    I was actually on a website he had many years ago but I wasn't overly impressed. I got some kind of ranking but moved on.

    Jonathan G. Lebed (born September 29, 1984) is an American stock trader prosecuted by the SEC at age 15 for stock manipulation.


    Between September 1999 and February 2000, Lebed made hundreds of thousands of dollars from the computer in his bedroom in Cedar Grove, New Jersey by posting in Internet chat rooms and on message boards encouraging people to buy penny stocks he already owned, thus, according to the SEC, artificially raising the price of the stock. Between September 1999 and February 2000, his smallest one-day gain was $12,000 while his biggest was $74,000.[9] The SEC, under Arthur Levitt, prosecuted him. In 2001, Lebed and the SEC negotiated an out-of-court settlement in which Lebed forfeited $285,000 in profit and interest he had made on 11 trades without admitting any wrongdoing — allowing him to keep close to half a million dollars.

    Pump And Dump
    Lebed invested in a small company called Firetector. After buying a large block of shares at $2.45 a piece, he went into cyberspace and plastered messages predicting that the stock would be at "$20 very soon." And just as soon as other investors jumped in, Lebed cashed out, pocketing a profit of $19,000.
    http://www.cbsnews.com/news/pump-and-dump/

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  2. StockJock-e

    StockJock-e Brew Master
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    Yeah!

    He was/is still doing pumps last I checked under some other name, Freedom America something...
     
  3. Ciao (Sheppy)

    Ciao (Sheppy) Well-Known Member

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    I would give him a medal if at under 16y can do that even if is wrong...
    I balme more those who jump in by just reading somebody else story/write up..
    but let be honest how many "moneymen" doing that without anyone investigating? it is always "the small and the little" that pay for the big one

    I could tell quite few things what go behind the scene but not in a post;)
     
    fireopal likes this.

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