Two convicted in computer hacking scheme that led to $30 million in profits
Two defendants, one from Brooklyn, were convicted on all counts for an international computer hacking and securities fraud scheme where they nearly made off with $30 million in profits before being indicted.
Vitaly Korchevsky, a former hedge fund manager, and Vladislav Khalupsky, a securities trader who lives in Brooklyn, were convicted on Friday in front of U.S. District Court Judge Raymond J. Dearie after a four week trial, and each faces up to 20 years in prison at sentencing.
Between Feb. 2010 and Aug. 2015, the pair gained unauthorized access into three business newswires and stole unpublished press releases that contained non-public information, and used that information to make trades that generated $30 million in illegal profits.
Brooklyn Boro
View MoreNew York City’s most populous borough, Brooklyn, is home to nearly 2.6 million residents. If Brooklyn were an independent city it would be the fourth largest city in the United States. While Brooklyn has become the epitome of ‘cool and hip’ in recent years, for those that were born here, raised families here and improved communities over the years, Brooklyn has never been ‘uncool’.