'Millionaire' high school investor admits he made it all up

In an interview with the magazine Mohammed Islam said he had made a figure in the "high eight figures" when asked whether he had earned $72m (£46m).

But he has now told the New York Observer that the whole story was false.

The teenage son of Bengali immigrants said he only made simulated trades as part of the investment club he runs at his school. Though he added that the simulated percentage was "extremely high relative to the S&P".

He said he "honestly didn't know" where the $72m figure came from" but that he "led [the New York Magazine reporter] to believe I had made even more than $72m on the simulated trades".

Islam said he was "incredibly sorry for any misjudgement and any hurt I caused", especially to his family.

His friend Damir Tulemaganbetov, who also featured in the New York Magazine interview said people "will be mad" about the lie but that they were "sorry".

(telegraph.co.uk)