Budding Hedge Fund Manager Arrested In Grade-Fixing Scam

Mar 9 2011 | 10:54am ET

A Nevada high school student with hedge fund dreams didn't even wait to graduate before deploying his entrepreneurial bent. Unfortunately for Tyler Coyner, his business plan didn't pass muster with the authorities.

Coyner, 19, who graduated from Pahrump Valley High School last year—as salutatorian, no less—was arrested and charged with hacking into the school's computer system and changing grades for cash. His own grades, the ones that made him salutatorian with a 4.54 grade point average, he presumably augmented gratis.

Coyner's business allegedly had a dozen clients, who paid Coyner to use the password he had obtained to the grading system on their behalf. Two other adults, Coyner's roommate at the University of Nevada, Reno, and one other, have been charged in the case, along with 10 juveniles. All 13 arrested had their grades changed, according to police, and the investigation continues.

"We're confident that there were others who knew about it," David Boruchowitz of the Nye County Sheriff's Office told Computerworld.

According to police, Coyner jumped into other illicit ventures upon reaching college: In his dorm room were found an allegedly stolen flat-screen television and equipment for making fake driver's licenses.

The arrest throws into serious doubt Coyner's academic dreams, elucidated to the Pahrump Valley Times last year: Two years at Reno, followed by a transfer to the University of Chicago, followed by graduate school in the Ivy League, preferably Harvard University, or, failing that, Stanford University. None of those institutions are known to look kindly upon convictions for conspiracy, theft and computer intrusion.

As for Coyner's final ambition, "He wants to eventually become the manager of a hedge fund"? Stay tuned.


In Depth

Whisky Business: The Ultimate Liquid Alternative Investment

Sep 15 2014 | 7:02am ET

David Robertson knows his single-malt whisky—he was the Master Distiller at the...

Lifestyle

Hedgies Rock Out For Children's Charity

Sep 15 2014 | 8:40am ET

It's that time of year again—when hedgies trade in their spreadsheets for guitars...

Guest Contributor

Volkered: How Financial Sector Reforms are Creating Opportunities for Hedge Funds

Sep 16 2014 | 11:28am ET

New regulations have dramatically curtailed proprietary trading activity in investment...

 

Editor's Note

    Get A Sneak Peak Of The Alpha Pages

    Aug 25 2014 | 11:21am ET

    As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…

 

Futures Magazine

July/August 2014 Cover

In search of the ‘new normal’ at the Fed

The Federal Reserve keeps baby-stepping toward a “normalization” of monetary policy. But just what is normal?

The Alpha Pages

TAP July/August 2014 Cover

The Alpha Pages Interview: Senator Rand Paul

Senator Paul sat down in the debut series of the Alpha Pages Interview to discuss the broken tax code, regulation surrounding Bitcoin, and his plans for the 2016 Presidential election.