Ga. Man Cops To Press-Release Hacking, Insider Trading Plot
By Pete Brush (December 21, 2015, 7:24 PM EST) -- A Cumming, Georgia, man pled guilty Monday in Brooklyn for his involvement in a scheme to trade stocks based on information stolen from press release distributors Marketwired LP, PR Newswire Association LLC and Business Wire which, according to prosecutors, netted a group of defendants $30 million in illegal profits.
Alexander Garkusha, 47, pled guilty to a count of wire fraud conspiracy before U.S. Magistrate Judge Ramon E. Reyes, who set a May 6 sentencing date. Garkusha, who is cooperating with the prosecution, became the first suspect to admit guilt.
Garkusha told Judge Reyes that two other suspects, Vitaly Korchevsky and Vladislav...
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