New guilty plea, charges in global press release hacking scheme

Jonathan Stempl reports:

A third trader has entered a guilty plea over what U.S. authorities have called a more than $100 million (£70 million) international scheme to hack into newswires that distribute corporate press releases, and use stolen information to conduct insider trading.

Arkadiy Dubovoy, 51, pleaded guilty on Thursday to one count of conspiracy to commit wire fraud, according to U.S. Attorney Paul Fishman in New Jersey.

Read more on Reuters.

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