Nine Charged in Insider Trading Case Tied to Hackers

“Federal authorities announced on Tuesday that they had broken up a five-year scheme in which rogue traders gave overseas hackers a ‘shopping list’ of confidential corporate news releases to steal, generating more than $100 million in illegal profits.

The authorities filed criminal charges against nine people. At least five men were arrested early Tuesday morning, according to people briefed on the investigation who spoke on condition of anonymity. The group made trades based on confidential information from the news releases stolen by hackers, according to court documents.”

Source: Nine Charged in Insider Trading Case Tied to Hackers – The New York Times

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