Not a bad twist on the “first in the pool” effect. I mean, really. If you don’t have a bunch of billion dollar reference clients, why not just create a few?
The owner of Locke Capital Management Inc., an investment adviser based in Rhode Island and New York, created a bogus billion-dollar client to help persuade investors to entrust money to her firm, regulators said in a lawsuit.
Makes sense to me. Between fake clients, fake trades, fake trade confirms, fake employees, fake pension funds, fake promissory notes, fake appraisals, and fake deaths, we could build an entire economy on fake and keep it running for years!
Oh, wait….
Money Manager Touted Bogus Billion-Dollar Client, SEC Claims [Bloomberg]
Google has dissappointed me with the lack of pictures of miss Leila Jenkins. How are we supposed to figure out what else may be fake?
I bet he has a bumper sticker that says “My other car is a bentley”
why do people take fake tits over a fake ass, anyway? it makes no sense–a fake ass is not as obvious, is closer to the consistency of a nicely toned ass, and arguably more seductive. it makes no sense!
Richie Rich Investments LP
Monty Burns Holdings Co
Trust FBO Issue of Thurston & Lovie Howell
Life is so short. Some people cannot deal with that. So, they have their chins and bellies sucked out and their tits, pecs or ass (as well as business) pumped up. You try to make as much money, screw as much as possible and gather as much money as you can without getting caught and going to jail. Everyone is doing it. Didn’t you know?
Remember when any jackass with a brokerage account could become rich in the dot.com boom?
Apparently the past 5 years was “any jackass who wanted to just make up shit” could become a millionare.
Who isnt a fucking criminal?
@3, Did you invest your money in a fake ass? Is it depreciating while no one notices? How much did it cost your boyfriend?
Next time splurge on a set of bolt ons… at least people will know your vain and in need of attention, and your boyfriend will have something to hold onto while he is riding your fake ass…
A billion dollar client.
At some firm called Locke Capital.
Billion.
Leila Jenkins is the new Bernie.
“Don’t look at the details – look at who is in the deal!”
Someone make it stop.
What? You mean it’s over?? No body told me.
~The Guy Who Wants to Just Make Shit Up and Become a Millionaire
There is no spoon, EP; this whole “fake” and “real” dichotomy is only butt a figment of our imaginations
@1 there may not be a photo available…but this article from 2004 about former Tory minister the Earl of Caithness, who had an affair with ‘Miss Jenkins’ that led to his wife’s eventual suicide just can’t be passed up.
http://www.dailymail.co.uk/debate/columnists/article-320645/Scandal-hit-Earl-finds-new-love.html
You just can’t make this shit up.
Leila C. Jenkins To Be Wed Jan. 1
Published: Sunday, November 7, 1982
Leila Cassel Jenkins, a vice president of Shields Associates, investment counselors in New York, plans to be married Jan. 1 to Edward Judson Waite 3d, general attorney and assistant secretary for the Crompton & Knowles Corporation, a specialty chemicals concern in New York.
The future bride is a daughter of Mr. and Mrs. Theodore Locke Jenkins of Darien, Conn., who have announced her engagment to the son of Mr. and Mrs. Waite 2d of Watertown, N.Y.
Miss Jenkins was graduated from Boston College.
She is a granddaughter of Lieut. Gen. William Peirce Ennis, U.S.A., retired, and Mrs. Ennis of Newport, R.I., and Washington; the late Col. Edward Jenkins, U S.A. retired, and the late Mrs. Jenkins of Princeton, N.J. Her father is president of Information Research International, international market consultants in Darien.
Mr. Waite was graduated from the Hebron Academy, Colgate University an the Union University Albany Law School. His father is vice president of the Harroun Lumber Corporation in Watertown.
Straight outta Crompton …
The ADV indicates more than 50% of the client base was pension funds. Presumably those funds had the same consultants as those who invested with WG Trading.
And the Chief Compliance Officer joined in July 2008. Oops. At least his resume won’t need much updating.
Fake is the new killing it!
Boy, all this making-up-shit-as-you-go-along news really gives me a lot of confidence in the system; makes me want to invest more in the stock market, especially in financials..
Locke’s 4Q 13F lists 200K shares of one holding (AP Pharma) for a value of $150M, and discloses liquidating the remaining portfolio to the tune of $923M. Top ten positions were up 56% Q2/Q3. I mean if your gonna lie, at least lose some money why don’t you.
wow this is like Fantasy Football only when you lose your money the tax payers come in to bail you out…
Here is the complaint …
http://www.sec.gov/litigation/complaints/2009/comp20936.pdf
@1 Picture of Leila Jenkins
http://925.nl/images/2009-03/halloooo2.jpg