SEC charges 32 in press release hacking, stock trading scheme

The U.S. Securities and Exchange Commission has charged 32 defendants with fraud in an international scheme that used stolen, yet-to-be-published press releases from hacked websites to conduct stock trades.

The SEC’s charges are on top of wire fraud conspiracy and other charges announced by the U.S. Department of Justice on Tuesday. The nine DOJ defendants also face SEC charges. The other SEC defendants are eight people and 15 companies.

Indictments unsealed Tuesday in the district courts for New Jersey and Eastern New York accused the DOJ defendants of stealing approximately 150,000 confidential press releases from the servers of Marketwired, PR Newswire Association and Business Wire.

Two hackers in the DOJ case allegedly had network access to at least one of the newswire services during a five-year period ending this month, the agency said. Two of the newswires appear to have shut down the hacker access in 2013, the SEC said.

Read the Full Article: Source – CSO Online
Browsing Privacy: (CSO Online) – SEC charges 32 in press release hacking, stock trading scheme

source not found

Related Article

Leave a Reply

Your email address will not be published.

Time limit is exhausted. Please reload CAPTCHA.