Developer Dodges Prison For Role In Hack-Based Trading Plot
Law360, New York (June 17, 2019, 9:30 PM EDT) -- A Georgia real estate developer on Monday avoided prison for his involvement in a $30 million scheme to trade stocks based on information stolen from press release distribution companies, with a New York federal judge citing the defendant's extensive cooperation with prosecutors.
At an afternoon hearing in Brooklyn, U.S. District Judge Raymond Dearie sentenced Alexander Garkusha, 51, who lives outside Atlanta, to time served, noting Garkusha's "thorough" and "compelling" testimony in the successful prosecution of former Morgan Stanley vice president and hedge fund manager Vitaly Korchevsky and former broker-dealer Vladislav Khalupsky.
Garkusha previously copped to wire fraud conspiracy, admitting that while...
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!