Three more charged for pump-and-dump hacking

Tuesday, 13 March 2007, 10:46 AM EST

US authorities have charged three Indian nationals for an elaborate pump-and-dump scheme that used hijacked brokerage accounts to manipulate the prices of 14 securities including Sun Microsystems and put options for Google.

The men were charged criminally in a 23-count indictment for conspiracy, securities fraud, wire fraud, aggravated identity theft and computer fraud. They were also sued in civil court in connection with the alleged conspiracy, which netted the perpetrators $121,500 in profit and cost victims a combined $875,000.

At The Register.

[ Read more ]




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