Jacob Wohl, The Teenage-Hedge Fund Manager, Has Been Ordered To Cease And Desist

The career of Jacob Wohl, the 19-year-old “Wohl of Wall Street” hedge fund manager, seems to be coming to a quick end. The high school jock who started his own hedge fund as a teenager and reported questionably high returns to investors has been served with a cease and desist order in the state of Arizona.

In the new court filing, the Arizona Corporation Commission a number instances of fraudulent activities by Wohl and his companies Wohl Capital Investment Group (WCIG), Nex Capital Management, LLC (NEX) and Montgomery Assets, Inc. (MAI).

Wohl had gotten significant media attention in recent years, but the cease and desist order now presents further evidence that Wohl’s exceptional performance may have simply been a figment of his own imagination.

Wohl and Nex Capital capital were recently banned for life from National Futures Association membership by the Commodity Futures Trading Commission after Wohl was determined to have mislead investors.

Contents Of The Order

Among the 14 alleged counts of fraud in connection with the offer or sale of securities included in the new cease and desist order are the following charges:

    1. Wohl and WCIG falsely represented to Investor 1 that only 20 percent of his investment would be at risk, yet lost approximately 50 percent of his Investor 1’s account value between December 2015 and January 2016.
    2. Wohl and WCIG falsely represented to Investor 1 that WCIG managed between $9 million and $10 million in assets, but actually managed less than $500,000.
    3. Wohl and WCIG misled Investor 1 regarding the risk associate d with the investment by representing that a textbook trade for WCIG had a 99.5 percent probability of profit.
    4. Wohl, Johnson, and MAl falsely represented…

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