Wednesday, April 28, 2010

Indian wizard behind bars for hacking accounts and online computer frauds

Chennai-born man sentenced to 81 months' jail
WASHINGTON: A U.S. court has sentenced Jaisankar Marimuthu, a 36-year-old native of Chennai, to 81 months in prison on charges of identity thefts, hacking and perpetrating an international fraud scheme. The accused was hacking into online brokerage accounts in the U.S. and used the accounts to manipulate stock prices, said Lanny A. Breuer, Assistant Attorney-General with the criminal division. Marimuthu pleaded guilty on February 5 to one count of conspiracy to committing the online securities and computer frauds, as also aggravated identity theft before a district magistrate at Omaha, Nebraska.

The accused, who was extradited to the U.S. following his arrest in Hong Kong, was sentenced on Tuesday before U.S. District Judge Laurie Smith Camp, and ordered to pay $2.4 million in restitution, court officials said.

Marimuthu was part of a conspiracy that operated out of Thailand and India from February 2006 to December 2006, in which the prices of thinly-traded securities were fraudulently inflated by hacking into U.S. brokerage accounts. — IANS
Chennai-born man sentenced to 81 months' jail
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