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"What happened here was essentially stock market fraud.
The case of Jonathan Lebed, labeled a teenage stock swindler, illustrates the two most salient facts about stock market fraud today, law enforcement officials and securities lawyers say.
The charges laid on Thursday mark the latest effort by US authorities to crack down on the use of social media to commit stock market fraud.
He does not address the agency's sluggish investigative pace, the wrist-slap penalties available to it or its meager resources for reviewing corporate audits and monitoring market fraud.
The students' favorite was Lewis' account of a fifteen year old prosecuted for stock market fraud.
From the boiler room-basement brokerages of southern New Jersey to the opulent office suites of midtown Manhattan hedge funds, the U.S. financial police are supposed to track down stock market fraud wherever it takes place.
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The S.E.C.'s news release explained that Jonathan -- the first minor ever to face proceedings for stock-market fraud -- had used the Internet to promote stocks from his bedroom in the northern New Jersey suburb of Cedar Grove.
Indeed, almost the only executives who served long jail terms -- like Michael Milken, the former junk bond impresario who went to jail for six felonies involving stock-market fraud -- were those who pleaded guilty.
Anyone who needs "The Wolf of Wall Street" to explain that the stock-market fraud and personal irresponsibility it depicts are morally wrong is dead from the neck up; but anyone who can't take vast pleasure in its depiction of delinquent behavior is dead from the neck down.
A judge from Iowa introduced himself and said that he once presided over a life insurance marketing fraud case brought by Mr. Weiss.
The deal also helps Coke move beyond an embarrassing chapter in the history of its fountain business, which was accused of marketing fraud last summer.
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