'According to federal officials, the defendants made a combined $100 million in illegal profits. The group includes two Ukrainian men who are believed to be the hackers, plus 30 other people from the U.S. and elsewhere who made the stock traders
The SEC initially filed fraud charges under seal on Aug. 10 in the U.S. District Court in Newark, N.J. The Justice Department announced criminal charges against several of the same defendants, including the alleged hackers, Ivan Turchynov and Oleksandr Ieremenko.
The Ukrainian men are said to have led the scheme over a five-year period. They hacked at least two newswire services, stealing hundreds of corporate earnings announcements before they were released.
The two hackers created a secret location on the Internet to send stolen data to traders in Russia, the Ukraine, Malta, Cyprus, France, and three U.S. states: Georgia, New York and Pennsylvania. In some cases, the traders shared a portion of their illicit profits with the hackers.'
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