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NEW YORK, NY – Kenneth Thom, who built a following online as investment personality “K$” or “K Money,” admitted today to fleecing his social media disciples in a classic fraud scheme. Thom, 40s, pleaded guilty before Judge Edgardo Ramos in Manhattan Federal Court, facing sentencing June 25, 2026.
Federal prosecutors say Thom, a suspended broker, posed as a Wall Street hotshot, a “luminary” and “beacon of knowledge” on social media, luring in followers with promises of trading secrets and investment success. In reality, he was using the persona to steal their money.
Court records reveal Thom’s history with FINRA dates back to at least 2011, when his broker registration was suspended after he failed to pay an arbitration award to a previous client. He confessed to the FBI he’d mixed that client’s funds with his own, lost it all on bad trades, then lied about the loss, ignoring the investor’s attempts to recover her cash.
Undeterred, Thom reinvented himself online, peddling trading courses and building a devoted audience before continuing his deceptive practices. US Attorney Jay Clayton stated the office will pursue similar cases involving social media investment schemes, emphasizing the need for investors to verify credentials and conduct thorough due diligence before handing over their money.
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