Wednesday, 16 September 2015

SEC Traders Pay 30 Million For Hacked Releases

Two equity traders have a settlement with the US Securities and Exchange Commission (SEC) is closed and will pay $ 30 million for using hacked press releases. It was recently announced that criminals for years had hacked several media companies to gain access to unpublished press releases.

These press releases were then used to trading in equities. The steal of the releases took place from 2010 to 2014. According to the SEC 34 suspects were reportedly more than 100 million dollars have earned this. The two suspects now reached a settlement earned with information from the press releases stolen 25 million dollars. In total, they have fraudulently obtained $ 30 million, although not announced where the remaining comes from five million dollars. This amount they now pay back, although the court must still approve the settlement. The case against the remaining 32 defendants are still pending.

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