Teen's Lie About Making $72 Million Trading Stocks Comes Crashing Down

You know kids. Sometimes they exaggerate, or even outright lie, oftentimes for nothing more than a little attention. Like maybe a teenager will lie about being on varsity or having gotten to second base when he's never even been kissed. But one 17-year-old took fibbing to the next level and invented a self-made $72 million fortune from playing the stock market.

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Yup, high school senior Mohammed Islam boasted that his net worth was in the "high eight figures" and that he made the money by trading stocks during his lunch hour.

It turns out that New York magazine got wind of the wonder kid and wrote an article about him. Islam got caught up in the media attention, and although he never quoted the $72 million figure, he admitted, "[I led the reporter to believe] I had made even more than $72 million on the simulated trades."

The student, who attends Stuyvesant High School in New York City, ran an investment club with his friends, where they practiced making simulated trades. Not real money. Also Monopoly money is not real money. Fake money can't buy things like private jets and beluga caviar on toast points. Just saying.

Islam is now coming clean, after the New York Post picked up his story and ran with the $72 million figure in the headline. Man, you go from a little bragging about fake stock market trades to CNBC calling for tips in no time flat! Seriously -- CNBC called. He and his friend Damir Tulemaganbetov, who was in on it too, ended up cancelling their appearance.

"I am incredibly sorry for any misjudgment and any hurt I caused," Islam admitted. "The people I'm most sorry for is my parents. I did something where I can no longer gain their trust. I have one sister, two years younger, and we don't really talk."

He continued, "Honestly, my dad wanted to disown me [after the New York story came out] ... my mom basically said she’d never talk to me. Their morals are that if I lie about it and don’t own up to it, then they can no longer trust me ... they knew it was false, and they basically wanted to kill me, and I haven’t spoken to them since."

You kind of have to feel bad for the kid. In today's crazy viral world, a little fib can turn into an international news story overnight. Let's just hope he learned his lesson and his family can forgive him.

Do you think Mohammed Islam ever intended for his lie to explode in his face like this?

 

Image via Andrew Magill/Flickr

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