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New York, NY – A social media hustler known as “K$” and “K Money” admitted in federal court today to running a brazen investment scam that preyed on his online followers. Kenneth Thom, 40s, pleaded guilty to investment adviser fraud before Judge Edgardo Ramos, facing sentencing June 25, 2026.
Thom, a former broker busted by FINRA in 2011 for mishandling client funds, reinvented himself as a “Wall Street veteran” and “luminary” online. He peddled trading courses and lured in investors with promises of easy riches, all while hiding his checkered past and a previous arbitration loss to a client.
The feds say Thom didn’t just lose a client’s money; he outright stole it. Back in 2011, he confessed to the FBI he’d mixed the investor’s cash with his own, blew it on bad trades, then lied to the investor and ghosted her when she asked for it back. After FINRA came down on him, he doubled down on the deception, building a persona on social media and continuing the grift.
US Attorney Jay Clayton’s office warned investors to do their homework before handing over cash, especially when taking advice from online figures. “Always verify credentials,” Clayton said, “and protect your investments through due diligence.”