Street closures for UN General Assembly

NYC teen who lied about making $72M issues video apology

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NEW YORK CITY (PIX11) -- A New York teenager who told a reporter he made $72 million trading stocks on his lunch breaks at school has apologized on video for "making it all up."

Mohammed Islam, 17, who was recently featured in New York Magazine as the "Boy Genius Investor," has issued the following statement.

The Stuyvesant High School student is apologetic for anyone who he has upset and sorry for the embarrassment which he says he has caused his family.

The “millionaire” whiz kid allegedly amassed a rumored net worth of $72 million by trading stocks and quickly became a viral sensation after media outlets started picking up the story. But skepticism about Islam’s claims started to arise and eventually, the teen came forward with the truth in an exclusive interview with the Observer.

Islam admitted the story was total fiction and also claimed he did not know where the $72 million figure came from. The teen was interviewed with his friend, Damir Tulemaganbetov, who was also featured in the magazine’s story. Both boys were accompanied with a public relations firm during the interview.

New York issued a formal apology Tuesday morning on their website.

The magazine said a fact-checker was sent to Stuyvesant High School to verify if Islam really did make millions. Islam produced a document that appeared to be a Chase bank statement, which ended up being falsified, as confirmed by Washington Post.

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