A 17-year-old so called “genius” made headlines on Sunday, telling New York Magazine that he made more than $72 million trading stocks.
However, this was all a lie according to the high school senior.
The magazine titled the story, “Because a Stuyvesant Senior Made Millions Picking Stocks. His Hedge Fund Opens As Soon As He Turns 18.”
Along with the article came questionable allegations against Mohammed Islam and the publication’s fact checking and research. It was this that Islam decided to do an interview with the 'New York Observer,' in which he admitted to the story being false.
“No, it is not true,” Islam said in response to his alleged “eight figure” net worth. “I honestly don’t know. The number’s a rumor…[I led her to believe] I had made even more than $72 million on the simulated trades.”
So what does 'New York Magazine' have to say for itself? “We were duped. Our fact-checking process was obviously inadequate; we take full responsibility and we should have known better. New York apologizes to our readers.” The magazine wrote in an updated Editor’s note along with the original article.
Islam continued to tell the 'New York Observer' that his family was tremendously disappointed in his actions. “Honestly, my dad wanted to disown me. My mom basically said she’d never talk to me. Their morals are that if I lie about it and don’t own up to it then they can no longer trust me. … They knew it was false and they basically wanted to kill me and I haven’t spoken to them since.”
Check out this YouTube video posted by Islam below:
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