⏱ 2 min read
NEW YORK, NY – Kenneth Thom, a disgraced Wall Street washout peddling get-rich-quick schemes online as “K$” and “K Money,” admitted in federal court today to ripping off his social media followers. Thom, 40, pled guilty to investment adviser fraud before Judge Edgardo Ramos and faces sentencing on June 25, 2026.
According to court records, Thom was once a licensed broker – until FINRA suspended him in 2011 after he blew through an investor’s money and then lied about it. He’d allegedly mixed the investor’s funds with his own, lost most of it trading, and then iced her out when she demanded her money back.
Undeterred, Thom reinvented himself online as a trading guru. He spun a false narrative of success, branding himself a “Wall Street veteran” and “luminary” to lure in unsuspecting followers. He sold them trading courses and convinced them to invest with him, then pocketed their cash.
“This guy was a grifter, plain and simple,” said a source close to the investigation. “He built an online persona and used it to prey on people hoping to make a quick buck. The feds are sending a message: your online hustle doesn’t shield you from the law.”
U.S. Attorney Jay Clayton’s office warned investors to verify credentials and do their homework before handing over their money, particularly when dealing with online “advisors.”
RELATED: Predators Groom Kids Online for Chaos & Abuse
Related Federal Cases
Key Facts
- State: NY
- Category: Fraud & Financial Crimes
- Source: DOJ Press Release ↗
🔒 Get the grimiest stories delivered weekly. Subscribe free →
Browse More
