Teen Made $1 Million In Online Scam

from the now-give-back-$900,000 dept

Remember the kid who made over $750,000 in an online stock scam and then only had to pay $250,000 in fines. Well, maybe the SEC is learning their lesson. They've now caught another teen who made $1 million by getting suckers to "pool" their money in an online casino betting deal. This time, they've made him agree to pay back at least $900,000. What I can't figure out is who these gullible people are who willingly paypal money over to some random person promising 2,500% returns (yes, 2,500%) on an internet discussion group.

1 Comments | Leave a Comment..

Reader Comments (rss)

(Flattened / Threaded)

Jan 9th, 2002 @ 6:05am

The Future Just Happened

by Gadders

You should read The Future Just Happened by Michael Lewis to get an overview of what happened with the first kid.

(reply to this comment) (link to this comment)

Add Your Comment

Have a Techdirt Account? Sign in now. Want one? Register here
Name
Email	Get Techdirt’s Daily Email
URL
Subject
Comment	this is for spambots, do not use this
Options	Plain Text HTML Save me a cookie

Plain Text: A CRLF will be replaced by break tag, all other allowable HTML is intact
HTML: No formatting of any kind is done without explicitly being written in
Allowed HTML Tags: <a> <blockquote> <hr> <tt>

<< How To Name A Virus | Dot.con: The Greatest Story Ever Sold >>

Search Techdirt

And now, a word from our Sponsors..

15% off discount for Techdirt Readers

Subscribe to Techdirt's Daily Email Newsletter

Teen Made $1 Million In Online Scam

from the now-give-back-$900,000 dept

Reader Comments (rss)

The Future Just Happened

Add Your Comment

Techdirt's Daily Email Newsletter