Thursday, March 25, 2010

Shia LaBeouf Caught Up In Rumors He Is Touting a Possibly Edgy Stock

Shia LaBeouf trained at John Thomas Financial to study for his role in the upcoming Oliver Stone/Michael Douglas motion picture "Wall Street 2: Money Never Sleeps,"  according to Sam Antar, former Crazy Eddie fraudster, turned fraud buster.

Antar claims that a stock market manipulation scheme took place awhile back involving InterOil (NYSE: IOC), John Thomas Financial, Clarion Finanz AG, and banned stock promoter Carl Caserta.

NyPo now reports that:

Actor Shia LaBeouf appears to be taking his role as Gordon Gekko's protégé in the upcoming "Wall Street" movie a little too seriously.

After preparing for his turn as a hedge-fund trader by visiting trading floors of small brokerage houses, LaBeouf in the April issue of GQ talked up the stock of an oil and natural gas exploration company that has yet to produce any of either.

"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, using the trader lingo he apparently picked up while prepping for the film.
LaBeouf bragged in a GQ that his he turned $20,000 into $450,000 from recent trading..

Antar is going for the jugular:
Apparently, Shia LeBeouf learned about InterOil from John Thomas Financial. 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? Afterall, LeBeouf learned about how the underbelly of Wall Street operates from John Thomas Financial and other firms to prepare for his leading role in the movie.
This the SEC may look into. A naive actor is red meat for the SEC, whether as witness or participant, unlike other potential cases.

1 comment:

  1. Maybe I'm wrong, but I think LaBeouf is naive instead of devious. Whatever the case, LaBeouf will see first hand some of the stupid crap the SEC tries to perpetrate sometimes. I hope he complains about it.

    The fact he is a non-finance guy makes him a bigger target. Martha Stewart was a similar situation.

    Compared to the epic and outright criminal fraud of Goldman, this is nothing. But guess who gets slapped? Goldman or a celebrity with little trading experience?