Jonathan Lebed
| Jonathan Lebed | |
|---|---|
| Born | September 29, 1984 |
| Nationality | United States |
| Education | Cedar Grove High School[1] |
| Occupation | Owner, Lebed Biz LLC |
| Known for | The first minor prosecuted by the U.S. Securities and Exchange Commission |
| Home town | Cedar Grove, New Jersey[2] |
Jonathan G. Lebed (born September 29, 1984) is an American stock trader prosecuted by the SEC at age 15 for stock manipulation.
In 2010, he was living in Wayne, New Jersey and the sole owner of Lebed Biz LLC, which runs a website touting penny stocks.[3][4] In 2008, a company won a $2.56 million judgment against Lebed.[5]
Contents
Early life and education
Lebed was raised in Cedar Grove, New Jersey, attended Cedar Grove High School and did not attend college.[4][1][6]
Legal issues
Lebed was the first minor prosecuted by the SEC.[7][8] Between September 1999 and February 2000, Lebed made hundreds of thousands of dollars from the computer in his bedroom in Cedar Grove, New Jersey by posting in Internet chat rooms and on message boards encouraging people to buy penny stocks he already owned, thus, according to the SEC, artificially raising the price of the stock. Between September 1999 and February 2000, his smallest one-day gain was $12,000 while his biggest was $74,000.[9] The SEC, under Arthur Levitt, prosecuted him. In 2001, Lebed and the SEC negotiated an out-of-court settlement in which Lebed forfeited $285,000 in profit and interest he had made on 11 trades without admitting any wrongdoing — allowing him to keep close to half a million dollars.[10]
Lebed's legal issues were profiled in an episode of the 2001 BBC documentary The Future Just Happened.[11][12]
Politics
In 2003, he ran for Cedar Grove township council and lost.[4][13][14]
References
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- ↑ http://www.nytimes.com/2001/02/25/magazine/25STOCK-TRADER.html
- ↑ http://www.nytimes.com/2000/09/21/business/sec-says-teenager-had-after-school-hobby-online-stock-fraud.html
- ↑ Lewis, Michael Jonathan Lebed's Extracurricular Activities New York Times. March 17, 2015
- ↑ Lewis, Michael. "Jonathan Lebed: Stock Manipulator, S.E.C. Nemesis -- and 15", The New York Times, February 25, 2001. Accessed December 22, 2014. "The S.E.C.'s news release explained that Jonathan -- the first minor ever to face proceedings for stock-market fraud -- had used the Internet to promote stocks from his bedroom in the northern New Jersey suburb of Cedar Grove."
- ↑ Lua error in package.lua at line 80: module 'strict' not found.
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- ↑ http://www.nytimes.com/2003/04/27/nyregion/in-person-no-grass-grows-under-these-feet.html
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Further reading
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