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Traders pay $30m to settle newswire hacking case

Discussion in 'CSO' started by RSS, Sep 14, 2015.

  1. RSS

    RSS New Member Member

    The Securities and Exchange Commission says two of the 32 parties charged with profiting from information hacked from newswire services have agreed to pay $30 million to settle the changes.

    Ukrainian-based Jaspen Capital Partners Limited and its CEO, Andriy Supranonok, were among those accused of generating $100 million in profits over five years using information from 150,000 yet-to-be-published press releases from Marketwired, PR Newswire and Business Wire.

    Jaspen Capital Partners and Supranonok are alleged to have made $25 million in the scheme. As part of the settlement, the two defendants neither admitted or denied the SEC's charges.

    The SEC alleges that two hackers accessed the documents and sent them to 32 traders around the world.

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