Russian hacker cracked stock accounts

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Narayanan R

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Jan 27, 2007, 4:49:05 AM1/27/07

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Russian hacker cracked stock accounts

As reported by- CrimeResearch.org

January 22, 2007

The US Securities and Exchange Commission (SEC) has frozen the New York Stock Exchange account of the Russian Evgeniy Gashichev and his company Grand Logistic.

He is suspected of having cracked accounts of other exchange participants in order to manipulate share prices. The US authorities are accusing the Russian of having illegally earned US$354,000 by applying the famous pump-and-dump scheme. Lawyers allege that Gashichev used stolen passwords to access accounts of leading online brokerage firms.

The information he got helped him to manipulate shares of various companies, including small businesses he owned. The case of this Russian hacker is being tried in a court.

For the original article visit:

http://www.crime-research.org/news/25.01.2007/2474/

Regards,

Narayanan.R

Asian School of Cyber Laws

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