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28-year-old Ukrainian hacker, Vadym Iermolovych has pleaded guilty, in a US Federal Court in Newark, New Jersey, to stealing unpublished media materials
and corporate earnings to help a criminal network make millions on the stock
market, after making about N6bn from the illegal act.
Iermolovych
confessed to have worked with two other Ukrainian hackers from 2010 to 2014 to
steal 150,000 press releases from services such as PR Newswire, Business Wire
and Marketwired. The alleged criminal made billions of naira by selling the
releases online and making trading decisions based on the information contained
within.
He is
faced with 20 years in prison for conspiracy to commit wire fraud, conspiracy
to commit fraud in connection with computers, and aggravated identity theft. Court
records also show that he was first charged by the U.S. Secret Service on Nov.
5, 2014, in a separate case, where he resold hacked credit and debit card data
on 600,000 accounts.
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