Reports on Friday say that the U.S. Securities and Exchange Commission (SEC) has identified an 18-year-old as the one responsible for the fake story of Apple CEO Steve Jobs having a heart attack.

An anonymous post showed up on CNN's iReport "Citizen Journalist" Web site in early October and claimed that Jobs was rushed to a hospital after suffering a major heart attack. The post read the following: "Steve Jobs was rushed to the ER just a few hours ago after suffering a major heart attack," said the false report. "I have an insider who tells me that paramedics were called after Steve claimed to be suffering from severe chest pains and shortness of breath. My source has opted to remain anonymous, but he is quite reliable…”

So it’s very clear now that Jobs is widely regarded as indispensable to Apple's success. Although Apple was quick to put an end to the rumor, a lot of damage had been done. The company's stock dropped to $94.65 per share from $105.04 per share, equaling a loss of $9 billion in market value.

Bloomberg is reporting that the SEC has uncovered no evidence of suspicious stock trading and this may let the teenager off the hook. “If the posting wasn't directly related to the purchase or sale of a security it's questionable the SEC would have jurisdiction,” said Michael Missal, a former enforcement lawyer at the agency now in private practice at K&L Gates LLP in Washington. However the SEC has yet to determine the teen's motive behind the rumor, but at this point it doesn't appear that he was attempting to manipulate Apple's stock value for personal gain.