His access to hacked information led to insider stock trading.
Arguments in a case of alleged insider trading took place in Boston’s federal court this past week. Russian businessman Vladislav Klyushin, who owns a technology company called M-13, is accused of using his technology to hack into private databases to trade stocks based on yet-to-be-announced information.
The assistant U.S. attorney says that Klyushin used this information to turn his $2 million investments into $21 million. He is also alleged to have brought other investors into this scheme, including Ivan Ermakov, a former Russian military intelligence officer separately charged with interfering in the 2016 presidential election.
“The defendant had tomorrow’s news – tomorrow’s headlines – today,” Assistant U.S. Attorney Stephen Frank stated in the trial. “And he exploited it for tens of millions of dollars in profits.” Klyushin has pleaded not guilty to all charges.
As the Lord Leads, Pray with Us…
- For U.S. Attorney Frank as he presents evidence in the trial.
- For the judge to by discerning as arguments are made and evidence revealed.
Sources: ABC News, Reuters
