So this happened. Isn’t this kind of thing that’s only supposed to happen in The Onion?
At the age of 16 twin brothers (in the UK, well done us!) defrauded 75,000 investors using a fake stock-picking robot.
What was I doing at 16? Eating toast. What were they doing? Making millions. What am I doing now? Still eating toast. What are they doing now? Facing jail time. Somewhere there I win.
They created a ‘stock picking robot’ called Marl who was supposed to be able to find great stocks about to increase in price for their subscribers, but in reality they were just picking stocks they were paid to promote by other parties. Bottom line, they were getting paid on BOTH ends of this scheme.
While we are all using our laptops to watch bulldogs on slides, and re-tweet Kim Kardashian they were using theirs to create an entire company and investment platform with great, albeit slightly evil, success!
Although, they were not perfect. And still only 16 after all. I love this charming evidence from the SEC complaint quoting their ad for a software developer to create the program. Nothing suspicious here at all people, it’s just almost fake.
37. Defendant Alexander John Hunter, in seeking bids to create the software in 2007, described the requirements for the software to freelance software coders as follows:
"Need a small software program which will appear to the user that once running it is analyzing thousands of penny stocks.
Every so often, the software will find a stock, and a message will appear from the system tray, and on the program showing the ticker symbol.
IMPORTANT: This software does not actually find stocks at all. Itshould connect to my database and simply request any new stocks I have put in.
Basically this is almost a “fake” piece of software and needs to simply appear advanced to the user…”