On Aug 11, 2015, U.S. authorities arrested four men accused of pilfering and then profiting from unreleased financial news hacked from companies including Toronto-based Marketwired L.P.
The case, which alleges ties to hackers in Russia and Ukraine, accuses Vitaly Korchevsky and three others, along with at least five “co-conspirators,” of making trades based on fraudulently obtained information contained in confidential and non-public corporate press releases.
The accused are alleged to have made profits — or “illegal proceeds” — of more than US$30 million.
Financial Post story
http://business.financialpost.com/news/fp-street/mysterious-russian-who-started-his-own-u-s-hedge-fund-arrested-in-30m-global-hacking-plot
On Aug 11, 2015, U.S. authorities arrested four men accused of pilfering and then profiting from unreleased financial news hacked from companies including Toronto-based Marketwired L.P.
The case, which alleges ties to hackers in Russia and Ukraine, accuses Vitaly Korchevsky and three others, along with at least five “co-conspirators,” of making trades based on fraudulently obtained information contained in confidential and non-public corporate press releases.
The accused are alleged to have made profits — or “illegal proceeds” — of more than US$30 million.
Financial Post story
http://business.financialpost.com/news/fp-street/mysterious-russian-who-started-his-own-u-s-hedge-fund-arrested-in-30m-global-hacking-plot
On Aug 11, 2015, U.S. authorities arrested four men accused of pilfering and then profiting from unreleased financial news hacked from companies including Toronto-based Marketwired L.P.
The case, which alleges ties to hackers in Russia and Ukraine, accuses Vitaly Korchevsky and three others, along with at least five “co-conspirators,” of making trades based on fraudulently obtained information contained in confidential and non-public corporate press releases.
The accused are alleged to have made profits — or “illegal proceeds” — of more than US$30 million.
Financial Post story
http://business.financialpost.com/news/fp-street/mysterious-russian-who-started-his-own-u-s-hedge-fund-arrested-in-30m-global-hacking-plot