The rules dont make sense? American college students commit suicide after they see loss of 5 million

category:Finance
 The rules dont make sense? American college students commit suicide after they see loss of 5 million


When father lit up the computer, he saw a suicide note.

The body of his son, Alex Kearns, was eventually found. On June 19, a reporter from the China Times learned from people close to Alexs parents that at present, his family did not suspect that he killed him. From the last words, the reason for his suicide was that Alex thought he had been penetrated.

Leave a last word to accuse app of stock speculation

Alex, 20, a sophomore at the University of Nebraska, lives with his parents in Naperville, Illinois.

Majoring in management, he gradually became interested in stock market, so he opened an account in Robin Hood, a stock broker, and began to invest in finance and play options.

Before writing his suicide note on June 12, Alex thought he owed at least $700000 (about 5 million yuan).

Bill Brewster, a cousin in law (or cousins), is an analyst at sullimar capital, an investment firm. On June 19, 2020 Beijing time, he told the China times that Alexs parents were not ready to talk to the media about it.

But according to Brewster, Alex said in his last words, if you see this letter, then Im dead How can a 20-year-old without any income be systematically allocated nearly $1 million in leverage I didnt have the willingness to be allocated so much leverage and take so much risk. I thought I was just taking the risk of the funds I actually had If you check the app, you will find that the options of margin trading mode are not enabled Go to hell, Robin Hood...

What does this last words mean? This is to say that app has leveraged transactions without user authorization. On June 13, 2020, Brewster said on twitter that Alex thought he didnt choose margin trading mode on the app (but in the end, the system automatically carried out leverage trading).

However, on June 19, Brewster told the China times that because the police had taken away Alexs mobile phone, he had not seen the account information on the mobile phone, and only had a screenshot of the account surplus left by Alex.

Alex suicide is getting more and more attention in the United States. The latest development is that the so-called through position of more than 700000 US dollars is possible.

According to Brewsters information provided to reporters of the China times, on June 14, 2020, a netizen named bradfin posted a message to him on twitter, suggesting that more than 700000 US dollars may be Wulong..

Alexs last words seem to fit in with them. The reporter of China Times noticed that the words in his last words: those put options I bought / sold should also be cancelled, but I dont know what I did (operation) after thinking about it.

Brewster seems to agree. On June 19, he told the China times that at the beginning of the incident, he understood what happened in some places and didnt understand in some places. At last, the news of the aforementioned netizens made the whole thing reasonable for him.

Screenshot of account transaction information left by Alex (provided by Brewster)

Specifically, there is a possibility: according to a statement on CNBC website in the United States, Robin Hood told users by email and notice that the closing operation would be completed on the second trading day after the user bought the option, and before the completion, the cash and buying power on the page might show a negative value.

Brewster told the China times that he doesnt think Alex lost money on Robin Hood now, and this is one of the places that made the whole thing very tragic..

Online Red securities companies

Robin Hood is a leading online Red brokerage company with zero Commission. Especially during this years epidemic, the number of new accounts increased by a historic 3 million, reaching a total of 10 million.

Its average user age is extremely young, allegedly only 31 years old, attracting a large number of young people like Alex to speculate on the app. On May 4, 2020, the company announced f-round financing of US $280 million, with an overall valuation of US $8.3 billion. The investor is the leading investor of Sequoia Capital, an old shareholder and a new investor including NEA, ribbit capital, 9yards capital, unusual ventures, etc.

Brewster confirmed to the reporter of China times that after the incident, Robinhood quickly contacted the family members, expressed sympathy, and proposed that a senior person of the company should start a dialogue with Alexs parents, but the latter was not prepared at that time, and is still not ready to talk with the outside world, especially unwilling to talk with Robinhood.

They mainly want to know the exact surname of Alex in order to investigate the matter (including the specific account transaction information of Alex). The family told them the exact surname. However, on June 19, Brewster told the China times, although I called them again and again later, hoping that they could understand why the app would show that, they never responded.. Now Brewsters introduction to twitter accounts has become the phrase: wait for Robin Hood to explain why their user interface is not the cause of suicide. The reporter of China times sent an interview letter to Robin Hood on relevant issues, but as of the time of publication, no reply had been received. Brewster is seeking the intervention of external forces. He told the Chinese times that he was calling on members of Congress to pay attention to some problems exposed in the incident. Editor in charge: Lu Fangrui editor in chief: Xia Shencha source: China Times editor in charge: Yang Bin_ NF4368

They mainly want to know the exact surname of Alex in order to investigate the matter (including the specific account transaction information of Alex). The family told them the exact surname. However, on June 19, Brewster told the China times, although I called them again and again later, hoping that they could understand why the app would show that, they never responded..

The reporter of China times sent an interview letter to Robin Hood on relevant issues, but as of the time of publication, no reply had been received.

Editor in charge: LV Fangrui editor in chief: Xia Shencha