The Department of Justice has charged two Ukrainian nationals for hacking into the Security and Exchange Commission’s (SEC) computer system to steal confidential corporate information and sell it to the highest bidder or to make trades.
Artem Radchenko and Oleksandr Ieremenko were charged in the United States Court District of New Jersey with securities fraud conspiracy, wire fraud conspiracy, computer fraud conspiracy, wire fraud, and computer fraud. These illegal endeavors are part of an earlier scheme that saw Ieremenko and others charged with allegedly illegally obtaining corporate press releases prior to their general release and using the information to make trades, the DOJ said in a statement.
Ieremenko remains at large in the Ukraine. The operation ran from about May 3, 2016 until October 20, 2016. Overall, the conspiracy is believed to have earned the defendants a total of $4.1 million.
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