SEC, DOJ File Suits Against Stock Manipulators

Law360, New York (March 13, 2007, 12:00 AM EDT) -- Three hackers who allegedly illegally used the brokerage accounts of others to manipulate the prices of 14 different stocks have been slapped with lawsuits by the U.S. Securities and Exchange Commission and the U.S. Department of Justice.

The SEC filed civil fraud charges Monday against Jaisankar Marimuthu, Chockalingam Ramanathan and Thirugnanam Ramanathan, three Indian men who allegedly broke into brokerage accounts and made trades, often completely depleting the funds in the accounts.

The DOJ has also brought a 23-count criminal indictment against the alleged hackers....
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