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US Charges English Twins Over $1.2m 'Stock Robot' Fraud

Posted by timothy on from the not-all-english-twins-of-course dept.

peetm writes "Twin brothers from England face U.S. civil charges for allegedly defrauding investors out of $1.2m (£745,000) through a bogus stock-picking robot. The twins, Alexander and Thomas Hunter, were just 16 years old when they devised the scam — which fooled around 75,000 people, according to U.S. officials."

3 of 114 comments (clear)

  1. I knew it! by lxs · · Score: 5, Funny

    Twins are evil.

  2. Re:Had to read the article... by Anonymous Coward · · Score: 5, Interesting

    "Nope"

    Yes they did.
    GS recommended and sold products that they internally classified as "shitty" - while at the same time they betted on the dropping of value of those product. As expected the value of those products did drop, GS clients lost big and GS itself won big.
    It's insider trading at the highest level.

    Sen. Levin Grills Goldman Sachs Exec On "Shitty Deal" E-mail
    http://www.youtube.com/watch?v=gLx2Xc1EXLg

  3. Re:Had to read the article... by Opportunist · · Score: 5, Funny

    criminal, -s, n: Someone unable to buy laws to make his actions legal.

    --
    We used to have a Bill of Rights. Now, with the rights gone, all we have left is the bill.