Russian businessman gets 9 years in US prison over $93M hack-and-trade scheme

[Kamaji]

Russian businessman gets 9 years in US prison over $93M hack-and-trade scheme

By Reuters
Published Sep. 7, 2023

A Russian businessman with ties to the Kremlin was sentenced on Thursday to nine years in a US prison after being convicted of participating in a $93 million insider-trading scheme involving hacked secret earnings information about multiple companies.

Vladislav Klyushin, the owner of a Moscow-based information technology company called M-13 that did work for the Russian government, was sentenced by US District Judge Patti Saris in Boston after a jury found him guilty in February.

Hackers from 2018 to 2020 viewed and downloaded yet-to-be-announced earnings reports for hundreds of companies including Tesla and Microsoft, which Klyushin and others used to trade before the news was public, according to prosecutors.

“The defendant’s massive gains here came out of other investors’ pockets,” Assistant US Attorney Seth Kosto said during the sentencing hearing. “That does real injury to American markets.”

Kosto had sought a 14-year sentence.

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Source:  https://nypost.com/2023/09/07/russian-vladislav-klyushin-sentenced-for-hack-trade-scheme/

[sneakypete]

10 million plus per year ain't a bad trade.

Especially since once the dust settles he will be getting  time off for good behavior. I doubt he will server even 3 years before being paroled.