Gotta give it him, pretty damn smart move, however very stupid not realizing he could have much more legitimately.
'Gotta give it him, pretty damn smart move, however very stupid not realizing he could have much more legitimately.' Totally disagree! It was a pretty dumb move given that once account holders reported password intrusion, mere 1-2-3 steps in SEC investigation would have found that someone was 'pumping and dumping' the stock. Rest would have been the chase of the ISP address and it was only a matter of time the guy would have been caught. Russians are good at computers so hacking into websites is what you credit them with. Rest was pretty foolish and wanting to be caught eventually was written all over this scheme.
Just for fun I would like to see if fsu countries really are beter educated. Any idea how we could compare. As far as giving russian hackers credit, cmon you dont think we would have had better hackers here if there were significantly less opportunity for computer geeks and less FBI enforcement. this hacking is market driven. risk of time (two kinds) vs. reward.
'I would like to see if fsu countries really are beter educated' you can make a kid cram under the ak-47 or give them free environment to chase their passions and dreams. works out better the second way, as seen by the results of the cold war.
you are missing the point. his expected future earnings from legitimate sources discounted to the present are much greater than his one shot income multiplied by his likelyhood of not getting caught.
I would have to give the guy an "A" for effort. But, like others said; He would have been better off get a CS job to start.
imo not smart at all, since the recipient account is traceable. Etrade and others frequently put suspect stocks on a trade by phone only status when the s*** hit the fan intraday to protect themselves.
Anyone know which were the 21 stocks? I can guess at a few but would like to know for sure. P.S. Might save someone the bother of claiming to have discovered a new chart pattern e.g the RUSSian Hook.
The stock names were not specified in the SEC complaint, perhaps for legal strategy reasons: http://www.sec.gov/litigation/complaints/2006/comp19949.pdf Here's a brief release, with a link to the above complete text: http://www.sec.gov/litigation/litreleases/2006/lr19949.htm There's one detailed example, involving CESI, on p. 7-8. Also, NaturalNano, Inc. is briefly mentioned on p. 9. Besides everything else, Sections 15-17, "Background", are pretty interesting. I didn't realize how apparently easy it is to have an account at Interactive Brokers, with them not knowing anything about who you are. Simply open a sub-account (one of "over 200") with an introducing broker (here "LHV"), which has set up an omnibus brokerage account with IB. Seems like a large loophole in the Patriot Act's "Know Your Customer" policy. (There is no evidence of IB clients' passwords having been compromised.)