Russian national named in $82M hacking scheme denied bail

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A Russian millionaire who U.S. authorities allege participated in a scheme to steal information on computer networks and use it for insider trading, illegally bringing in tens of millions of dollars, was denied bail Wednesday. If convicted of all charges he faces a maximum of 50 years in prison. He was finally extradited to the U.S. on Dec. 18. Klyushin, Ermakov and a third defendant worked at M-13, a Moscow-based information technology company that purported to provide services to detect vulnerabilities in computer systems, and counted among its clients the administration of Russian Federation President Vladimir Putin and other government entities, U.S. prosecutors said. By getting a company’s financial information ahead of time, the defendants were able to make trades using brokerage accounts, sometimes in their own names, based on whether a company’s shares would likely rise or fall following the public disclosure of the information, prosecutors said.

Source: https://news.yahoo.com/russian-national-...25249.html

 

                                                      
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