Rough Month, Journalists: 'Teen Millionaire' Story Was Fake
High schooler Mohammed Islam says the story he told New York Magazine was completely fake and he never really earned $72 million in the stock market.By Matt Moreno | December 16, 2014
A magazine runs a story about a teen investor who's $72 million rich. Only problem is that figure is off by about $72 million.
Media were clamoring over a story in New York Magazine Sunday about 17-year-old Mohammed Islam. The mag said he made $72 million by investing in penny stocks during his high school lunch hour.
The story was so intriguing, CNBC reached out to interview Islam and his friends. That's when things started unraveling.