SEC v. Vladislav Kliushin

Vladislav Kliushin allegedly participated in a fraudulent hack-to-trade scheme. According to the SEC, Kliushin and four other defendants engaged in a multi-year fraudulent scheme to profit by trading on material nonpublic pre-release earnings announcements of public companies that defendants deceptively obtained by hacking into the systems of two U.S.-based filing agent companies that assist publicly-traded companies with preparing and filing reports with the SEC. Through the scheme, Kliushin and other defendants collectively realized at least $82500000 in illicit profits.

Summary generated from official Securities and Exchange Commission press release