Tags: IOC, John Thomas Financial, method actors, oops, Shia Labeouf, was that wrong
Method actors at the boy's department's jackets that love them.
Yesterday we mentioned that thespian, Level III CFA candidate and noted stock picker Shia LaBeouf had been talking up InterOil, an oil and natural gas exploration company. “IOC’s momentum is major, and it will surprise to the upside,” LaBeouf said in a text message to the GQ article’s author, Adam Sachs, who wrote about ShiLa’s new hobby (making it rain all from the comfort of his boxers) for the magazine’s April issue. But where did the master trader get the idea? Sure he meets with Goldman Sachs execs on the reg and is thisclose to becoming a CFA but is he really that good? I’d like to give him the benefit of the doubt (he’s going to be running one of the most powerful hedge funds in the world one day so trying to stay on his good side and all that) but others are thinking the budding BSD had some help from his friends at John Thomas Financial (the people who brought you the pride rally and breasts as napkins).
In July 2009, we provided detailed evidence of a stock market manipulation scheme involving InterOil, John Thomas Financial, Clarion Finanz AG, and banned stock promoter Carl Caserta. I believe that they conspired to raise the stock price of InterOil’s shares to force the conversion of certain outstanding debentures to common stock. Apparently, Shia LeBeouf learned about InterOil from John Thomas Financial, [where he studied for his role in Wall Street 2, Money Never Sleeps]. It would be interesting to find out what he knew, when he knew it, and if he traded any InterOil shares. Maybe he can provide details on how John Thomas Financial pushed InterOil shares on it’s customers?
Update: John Thomas Financial’s CEO thinks the very idea of this is uproarious:
[JTF CEO] Belesis adamantly denies LaBeouf was paid or asked to pump IOC’s stock. “That is preposterous and it’s laughable to the extent where if I laugh too hard, I don’t want to give myself a heart attack,” says Belesis. “InterOil is a company we have done very well with to our investors…but in no way, shape or form was he paid or anything of that nature.”
Can Shia LaBeouf Help Shed Light on a Stock Market Manipulation Scheme Involving InterOil and John Thomas Financial? [WCF]