High School Student to Turn Over Money Allegedly Made From Internet Investment Scheme

In the latest case involving a minor who allegedly profited from online securities fraud, a 17-year-old has agreed to turn over some $900,000 he allegedly swindled from investors in a sports betting scheme he ran on the Internet. The U.S. Securities and Exchange Commission claimed that Cole A. Bartiromo of Mission Viejo, Calif., defrauded about 1,000 investors of more than $1 million through his "Invest Better 2001" Web site and bulletin board.

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