HE was the self-proclaimed Teen Wolf of Wall Street who claimed to have made tens of millions of dollars by trading stocks on his school lunch break. But, in a shocking twist, Mohammed Islam now says he and his friend made the whole thing up after they were swept up in a media frenzy. Islam’s hoax was so elaborate and well-crafted, he managed to fool New York magazine, which reported that the 17-year-old student from Stuyvesant High in Queens was worth a rumoured $US72 million. The too-good-to-be-true story of the whiz kid trader was quickly followed up by other media outlets. Islam and his “colleague” Damir Tulemaganbetov were booked to appear on the CNBNC TV show Half-Time Report before suddenly pulling the pin after they went into a state of panic upon realising they had taken it too far.

The whole Teen Wolf of Wall Street thing, Islam told the New York Observer, had gotten out of hand.
“We expected a regular article about what we hope to do” in our career, he told the New York Observer. “The way we were portrayed is not who we are.” Islam, the son of Bengali immigrants, told the New York Observer he was contacted by New York magazine reporter Jessica Pressler, who broke the initial story, after she got his details from a co-worker who knew the teen.

The teen said talk of him having an eight-figure salary was “total fiction” and the figure of $US72 million was “not true”. “(I led Pressler to believe) I had made even more than $72 million on the simulated trades,” Islam told the New York Observer. The teenager said his lies had enraged his parents and he had spent the night at a friend’s house in order to avoid them… see more

source: news.com.au