An article in New York magazine about a high school student who had earned eight figures trading stocks was a hoax, a representative for the student said Monday night.
The article appeared in the magazine’s “Reasons to Love New York” issue. No. 12 on the list was: “Because a Stuyvesant senior made $72 million trading stocks on his lunch break.”
The student, Mohammed Islam, 17, confirmed to New York magazine that his net worth was in the “high eight figures.”
After its publication, the article spread across the world on social media, and The New York Post put the news of the students’ trading prowess on its Sunday front page.
But late Monday, The New York Observer published an interview in which Mr. Islam and a friend, Damir Tulemaganbetov, 19, admitted to making the whole thing up. The newspaper asked Mr. Islam if he had in fact made any money at all.
“No,” he replied.
Through a representative, Mr. Islam and Mr. Tulemaganbetov declined to comment. “These are young kids who got excited by a reporter’s inquiry,” said Ronn Torossian, the representative. “At the end of the day these are teenagers who acted dumb.”
300
250
200
