Jonathan Lebed was 15 in September 1999 when he started buying stocks using accounts at AOL and E*Trade. Lebed used fake names to post messages in Yahoo Finance message boards to recommend the stocks he bought to other readers.

Trading soared from their normal 60,000 daily to more than a million. Lebed sold his stocks and made money. Readers never really questioned the wisdom of the poster/s of messages. They read, they bought, and Lebed made money when he sold his stocks to them. The US SEC made many allegations against Lebed but later settled with Lebed.

Jonathan Lebed’s background story, photos and details.

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This entry was posted on Wednesday, February 11th, 2009 at 2:38 am and is filed under Gossip.