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Pastimes : Jonathan Lebed, 14 Year Old Boy Fined 1/4 Million by SEC -- Ignore unavailable to you. Want to Upgrade?


To: Bill Ulrich who wrote (137)9/25/2000 9:11:40 PM
From: donjuan_demarco  Read Replies (2) | Respond to of 172
 
Please define "defraud" as used here:

"it is still nonetheless illegal AND wrong today to defraud other people in the premeditated manner engaged by Lebed"

Explain WHY his conduct was illegal.

Was Lebed their broker? Did he have a fiduciary relationship with them? Was he their investment advisor?
If, on a message board, I say that XYZ is going to go up 400% this year, am I "defrauding" anyone?