Prison time for cyber stock swindler

Friday, 7 May 2004, 1:12 AM EST

A young investor with more wiles than trading luck was sentenced to 13 months in prison Wednesday for using a Trojan horse program and someone else's online brokerage account to sell thousands of worthless stock options to an unwilling buyer.

Van T. Dinh, 20, was the first to be charged by the Securities and Exchange Commission with a fraud involving both computer hacking and identity theft, according to the SEC.

According to court records, last July, the then-teenaged Dinh was the unhappy owner of $90,000 in "put" options that could have delivered a hefty payoff if Cisco Systems Inc. stock drooped below $15.00 a share, but instead were close to expiring worthless.

By Kevin Poulsen at SecurityFocus.

[ Read more ]




Spotlight

The synergy of hackers and tools at the Black Hat Arsenal

Posted on 27 August 2014.  |  Tucked away from the glamour of the vendor booths and the large presentation rooms filled with rockstar sessions, was the Arsenal - a place where developers were able to present their security tools and grow their community.


Weekly newsletter

Reading our newsletter every Monday will keep you up-to-date with security news.
  



Daily digest

Receive a daily digest of the latest security news.
  

DON'T
MISS

Wed, Aug 27th
    COPYRIGHT 1998-2014 BY HELP NET SECURITY.   // READ OUR PRIVACY POLICY // ABOUT US // ADVERTISE //