Ukrainian hacker sentenced in stolen news releases scheme

Credit: AP Graphics

NEWARK, N.J. (AP) – A Ukrainian hacker involved in an international scheme that used stolen unpublished news releases to make about $30 million in profits has been sentenced to more than two years in prison.

Vadym Iermolovych received a 30-month term Monday and must pay slightly more than $3 million in restitution.

He had pleaded guilty in May 2016 to aggravated identity theft and conspiracy to commit wire and computer hacking.

Federal authorities in New Jersey say the 29-year-old Kiev man was among several people arrested in August 2015 in the U.S. and Ukraine. The Securities and Exchange Commission also charged them and 23 other individuals and companies in the U.S. and Europe.

The U.S. attorney’s office says they gained access to more than 150,000 press releases that contained earnings figures and other information.

 

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