July 6, 2018
Posted July 17, 2018
A former hedge fund manager and a former stock trader were convicted of, among other charges, conspiracy to commit securities fraud in connection with a scheme that generated $30 million in ill-gotten profits. The defendants conspired with cybercriminals to obtain press releases prior to their release and then execute trades designed to profit off their advance knowledge of the financial information contained in the announcements. DOJ, DHS, the Secret Service, and the SEC worked together on the investigation and prosecution. USAO EDNY
Tagged in: Insider Trading, Securities Fraud,