Sunday, April 22, 2012

SEC finally getting tough on finance hanky panky

They slept through Bernie Madoff's 60 billion dollar fraud.

They snoozed out in Lehman Brothers very offices throughout Lehman's 300 billion dollar fraud.

But that was then.

This is now, and the gloves are off.

The SEC is throwing the book at two British teens who took investors for roughly 1.2 million dollars.

That's right, we're talking a million here, not billions or hundreds of billions.

Alex and Thomas Hunter were sixteen years old when they came up with the idea of a stock-picking robot. "Marl" was supposedly programmed by a veteran Wall Street insider to sniff out up and coming penny stocks. The kids sold a newsletter to thousands of subscribers revealing Marl's stock picks.

Heck, they almost became millionaires!

The SEC filed suit in New York this week to force the Hunter twins to make good.

Mainwhile, Richard Fulds, the Lehman CEO who walked away from the wreckage with hundreds of millions of dollars, has yet to hear from the SEC.

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