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Two Ukrainians indicted in hacking US Securities, Exchange Commission.

WASHINGTON, Jan 15 (KUNA) -- Two Ukrainian men were charged on Tuesday for their roles in an international conspiracy to hack into the US Securities and Exchange Commission's (SEC) computer systems and profit by trading on information they stole. Artem Radchenko, 27, and Oleksandr Ieremenko, 26 of Kiev were charged with securities fraud conspiracy, wire fraud conspiracy, computer fraud conspiracy, wire fraud, and computer fraud, said a statement from the Department of Justice. "The indictment alleges that Radchenko and Ieremenko hacked into the Sec's Electronic Data Gathering, Analysis and Retrieval (EDGAR) system and stole thousands of files, including annual and quarterly earnings reports containing confidential, non-public, financial information, which publicly traded companies are required to disclose to the SEC," said the statement. "The defendants and other then profited by selling access to the confidential information in these reports and trading on this stolen information prior to its distribution to the investing public," it added. To gain access to the SEC's computer networks, the men used a series of cyber-attacks and then stole information from the EDGAR system by copying the test filings to servers they controlled. "The wire fraud conspiracy and substantive wire fraud counts with which the defendants are charged carry a maximum potential penalty of 20 years in prison and a USD 250,000 fine, or twice the gain or loss from the offense. "The securities fraud conspiracy, computer fraud conspiracy, and substantive computer fraud counts with which the defendants are charged carry a maximum potential penalty of five years in prison and a USD 250,000 fine, or twice the gain or loss from the offense," the statement said. (end) ak.bs

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Publication:Kuwait News Agency (KUNA)
Date:Jan 16, 2019
Words:288
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