4th Trader Admits Guilt In $30M Newswire Hacking Scheme

By Jody Godoy (August 2, 2016, 5:32 PM EDT) -- A trader admitted on Tuesday that he bought and sold stocks on information Ukrainian hackers allegedly stole from newswire services, becoming the fourth trader to plead guilty in what prosecutors call a $30 million cybercrime.

Appearing in Brooklyn federal court court wearing a black suit, Leonid Momotok, 48, read a statement apologizing for his role in the alleged scheme before U.S. Magistrate Judge Ramon Reyes. Momotok admitted he had knowingly used nonpublic information stolen from newswires to trade stocks on the New York Stock Exchange. He pled guilty to one count of conspiracy to commit wire fraud and agreed not to...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.


  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!

TRY LAW360 FREE FOR SEVEN DAYS

Hello! I'm Law360's automated support bot.

How can I help you today?

For example, you can type:
  • I forgot my password
  • I took a free trial but didn't get a verification email
  • How do I sign up for a newsletter?
Ask a question!