Traders pay $30M to settle newswire hacking case
The Securities and Exchange Commission (SEC) says two of the 32 parties charged with profiting from information hacked from newswire services have agreed to pay $30 million to settle the changes.
Ukrainian-based Jaspen Capital Partners Limited and its CEO, Andriy Supranonok, were among those accused of generating $100 million in profits over five years using information from 150,000 yet-to-be-published press releases from Marketwired, PR Newswire and Business Wire.
Jaspen Capital Partners and Supranonok are alleged to have made $25 million in the scheme. As part of the settlement, the two defendants neither admitted or denied the SEC's charges.
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