Thread by @Headsnipe011

Two Ukrainian Nationals Indicted in Computer Hacking and Securities Fraud Scheme Targeting U.S. Securities and Exchange Commission

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justtherealnews.com/2019/01/15/two…

NEWARK, N.J. – Two Ukrainian men have been charged for their roles in a large-scale, int'l conspiracy to hack into the Securities and Exchange Commission’s (SEC) computer systems and profit by trading on critical information they stole, U.S. Atty Craig Carpenito announced today.

In a 16-count indictment unsealed today Artem Radchenko, 27, and Oleksandr Ieremenko, 26, both of Kiev, Ukraine, are charged with securities fraud conspiracy, wire fraud conspiracy, computer fraud conspiracy, wire fraud, and computer fraud.

The SEC also filed a civil complaint today charging Ieremenko along with several other individuals and entities.

The indictment alleges that Radchenko and Ieremenko hacked the SEC’s Electronic Data Gathering, Analysis and Retrieval (EDGAR) system and stole thousands of files,

including annual and quarterly earnings reports containing confidential, non-public, financial information, which publicly traded companies are required to disclose to the SEC.

The defendants and others then profited by selling access to the confidential info in these reports and trading on this stolen information prior to its distribution to the investing public.

“The defendants charged in the indictment announced today engaged in a sophisticated hacking and insider trading scheme to cheat the securities markets and the investing public,” U.S. Attorney Craig Carpenito said.

“They targeted the Securities and Exchange Commission with a series of sophisticated and relentless cyber-attacks, stealing thousands of confidential EDGAR filings from the Commission’s servers...

and then trading on the inside information in those filings before it was known to the market, all at the expense of the average investor.”

“The defendants allegedly orchestrated sophisticated computer intrusions to steal non-public information from the SEC, compromising the integrity of the market and depriving honest investors of a level playing field,” said Assistant Attorney General Brian Benczkowski.

“The Department of Justice will aggressively pursue and prosecute those who attack our financial markets and seek to profit unfairly, no matter where such offenders reside.”

“Today’s indictment sends a strong message to those criminals who choose to use the cyber-world to profit from network intrusion,” Mark McKevitt, Special Agent in Charge of the Secret Service Newark Field Office, said.

“The Secret Service will continue to aggressively investigate cyber-enabled financial crimes and develop innovative ways to combat emerging cyber threats.”

“This indictment is a testament to the countless hours of hard work and dedication by law enforcement in the fight against cyber criminals,” FBI Special Agent in Charge Gregory W. Ehrie said.

“Cybercrime knows no boundaries. Dismantling these operations are possible only by working closely with our partners.”

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