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Latvian 'hacked broker-dealers in £560,000 share scam'

Michael Pooler | Jan. 30, 2012
A Latvian man has been charged by the US financial regulator for an alleged online stock fraud that cost investors more than $2 million (£1.3 million), and may have enabled him to profit over half a million pounds.

The news comes days after a settlement reached by US hedge fund Diamondback Capital in a separate case. Diamondback is paying $9 million to settle groundbreaking charges around the participation of two former employees in the $62 million (£40 million) insider trading of Dell and Nvidia stock.

 

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