SEC Sues UK Trader Over Hacking Accounts to Pump and Dump Stocks
Posted: Wed Jun 22, 2016 7:14 am
The US Securities and Exchange Commission (SEC) is suing a trader based in the United Kingdom in connection with the alleged hacking of accounts belonging to US investors in order to carry out trades that would affect market prices to his own benefit and to others detriment.
The SEC said it obtained an emergency court order to freeze the assets of 30-year-old UK citizen Idris Dayo Mustapha, over the alleged unauthorized stock trades placed in client’s accounts without their knowledge which netted a profit to Mustapha while returning a loss to affected clients.
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We will swiftly track down hackers who prey on ... (read more)