Three hackers from India have been indicted in the U.S. on charges of conspiracy and fraud for accessing dozens of online brokerage accounts to jack up stock prices and reap more than $120,000 in illegal profits.
The alleged “hack, pump and dump” scheme cost one brokerage firm at least $2 million in losses, the Justice Department announced Monday. An estimated 60 customers and nine U.S. brokerage firms, including Ameritrade Holding Corp., E-Trade Financial Corp. and OptionsXpress, were duped in the case during a four-month period last year.
