Paul Sims
Mail Online
November 30, 2011
A teenager behind an illegal share trading operation made £1.5million in just three years from his bedroom, a court heard yesterday.
Alexander Hunter duped tens of thousands of investors into paying a subscription fee for tip-offs about U.S. penny stocks.
Hunter, who was just 16, claimed he had a computer program able to pick lucrative shares. In return for a £30 subscription fee, investors would receive the tips via his website and would double their money, he said.
But the stock trading program Hunter promoted was merely a product of his imagination and the get-rich-quick promise amounted to nothing, Newcastle Crown Court heard.
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