An alliance of mainly U.S.-based stock traders and computer hackers in Ukraine made as much as $100 million in illegal profits over five years after stealing confidential corporate press releases, U.S. authorities said on Tuesday.
Prosecutors announced charges against nine people in an insider-trading case that marks the first time criminal charges have been brought for a securities fraud scheme involving hacked inside information, in this instance 150, 000 press releases from distributors Business Wire, Marketwired and PR Newswire.
Will you offer us a hand? Every gift, regardless of size, fuels our future.
Your critical contribution enables us to maintain our independence from shareholders or wealthy owners, allowing us to keep up reporting without bias. It means we can continue to make Jewish Business News available to everyone.
You can support us for as little as $1 via PayPal at firstname.lastname@example.org.
“This is the story of a traditional securities fraud scheme with a twist – one that employed a contemporary approach to a conventional crime, ” FBI Assistant Director-in-Charge Diego Rodriguez said at a news conference.
Read the full story, click here