Jonathan Lebed
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Jonathan Lebed (born circa 1985) is an American who, in 2001 as a teenager, made hundreds of thousands of dollars by going into internet chat rooms and encouraging people to buy stocks he already owned. The SEC under Arthur Levitt prosecuted him. However, out of fear of losing the case, the SEC settled out of court and allowed him to keep most of his earnings ($500,000 out of almost $800,000) . Many pundits viewed the case as ironic, saying that Lebed was doing essentially the same thing as most stock analysts do.
External links
- A New York Times online article mirror, "Jonathan Lebed: Stock Manipulator, S.E.C. Nemesis -- and 15" (http://www.cs.brown.edu/people/rbb/risd/Lebed.html)