Aspiring Hedge Fund Manager Charged With Changing High School Kids' Grades For Cash

Author:
Updated:
Original:

At his high school graduation last year, Tyler Coyner told the audience his goal in life was to become a hedge fund manager. Coyner was the class's salutatorian and finished his time at Pahrump Valley High School with a 4.54 grade point average. That number may be slightly higher than it ought to have been, as Coyner was the founder of a business that charged students money to raise their GPA's, by breaking into the school's computer system.

Police say Tyler Coyner, 19, was the ringleader in a group of 13 students who have been charged with conspiracy, theft and computer intrusion in connection with the case. Last year, Coyner somehow obtained a password to the Pahrump Valley High School's grade system and, over the course of two semesters, offered to change grades in return for cash payments, police say.

Born with some serious business sense, the grade deal wasn't the only thing Coyner had going on. Police apparently found "equipment for making fake driver's licenses" in Coyner's dorm room at the University of Nevada-Reno (in addition to a flat screen TV, allegedly borrowed from Wal-Mart). Anyway, back to Coyner's dreams- as his seems to be a victimless crime, much like insider trading, anyone want to hook him up with a summer internship?

Top Student Charged With Fixing Grades For Cash [PCW]

Related

Connection To A Company Called "Yeah Baby" Not Even The Best Part Of "High School Buddies" Insider Trading Scam

Over the past several years, much has been made about the supposed incompetence of the Securities and Exchange Commission. The regulator failed to realize Bernie Madoff had been running an illegitimate Ponzi scheme, despite more or less being told by Bernie Madoff himself, "I am running an illegitimate Ponzi scheme." It went after David Einhorn, when it should have been going after Allied Capital, the company the hedge fund manager told them was committing fraud. Its proposal for stepping up investigators' games was to start a Fraud College.* Until recently, it employed individuals in the office responsible for "ensuring exchanges follow guidelines concerning...computer audits, security, and capacity" who had "little or no experience with exchange technical matters." At this point, there have been so many stories about the SEC getting things wrong that the default is to assume it fucked up, even when that is not actually the case. What's more, even when Team Schapiro is on top of its game, resources are so strained that many scams that should be caught fall through the cracks. So you can maybe understand why a group of "high school buddies," along with a few other guys they picked up along the way, who were engaging in securities fraud, weren't too worried about getting caught.