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December 28, 2016 04:00 pm
Original Link: http://rss.slashdot.org/~r/Slashdot/slashdot/~3/AgCAVH_mP_k/chinese-traders-charged-with-insider-trading-on-hacked-information
Chinese Traders Charged With Insider Trading on Hacked Information
Chinese traders hacked into the computer systems of U.S. law firms that handle mergers, then used the data for insider trading that generated more than $4 million in illegal profits, federal prosecutors and regulators charged Tuesday. From a report on USA Today: The suspects in the alleged criminal marriage of cyber-hacking and securities fraud targeted at least seven law firms and other entities that handle the sensitive and often lucrative legal work of advising companies pursuing mergers and acquisitions, according to a 13-count superseding indictment unsealed in New York. Operating from April 2014 through late 2015, the alleged scheme ultimately gained access to secret information from two law firms about pending corporate deals, prosecutors charged. The suspects allegedly prized, targeted and gained access to the emails of attorneys directly involved in the deals. Prosecutors charged they exchanged a list of partners who performed such work at one of the firms before hacking into that firm's computer system.Read more of this story at Slashdot.
Original Link: http://rss.slashdot.org/~r/Slashdot/slashdot/~3/AgCAVH_mP_k/chinese-traders-charged-with-insider-trading-on-hacked-information
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