Did you hear the one about the New York City high school student who made $72 million trading stocks during his lunch hour?
Don’t believe it.
But back to the high school student, Mohammed Islam, who fessed up to the New York Observer last night. Just hours earlier, Islam and his friend, Damir Tulemaganbetov, were at CNBC prepared to do an interview about their multi-million dollar stock trading prowess, when the teens decided it was time to come clean. Tulemaganbetov tells the Observer,
We were at CNBC. That’s why we’re dressed up. But we were there and literally in the building stressing out. We had 20 minutes. Then we three times asked them could we have 20 seconds to talk? [The boys ended up cancelling the CNBC appearance.]
CNBC was among the leading skeptics. “In a CNBC interview at midday Monday, Islam said the New York article was not accurate. He intimated that his trades had netted a few million dollars but dodged repeated questions.”