Wall Street Whiz Kid Actually Just Fraudster With Bad Taste

Would-Be Financial Whiz Is Charged
With Stealing From Investors

Thirty-three-year-old Mark Malik convinced investors and hedge-fund ranking firms like Bloomberg LP that he was a successful Wall Street tycoon with $100 million in assets. In actuality, he was a former waiter and New York City traffic cop who didn't attend college and allegedly spent investors' money on knickknacks at the Statue of Liberty Gift Shop. Oops!

The Wall Street Journal reports that Mark Malik is being held at the Tombs on a $1 million bail bond on charges of securities fraud. The SEC claims he stole over $700,000 from unwitting investors and never actually made any returns on it, instead using the money to finance a lifestyle that included trips to the Statue of Liberty and a $49.99 subscription to a Muslim dating site. READ MORE