Arrests Made In JPMorgan Hack, Securities Fraud SchemeArrests Made In JPMorgan Hack, Securities Fraud Scheme
Four individuals arrested in Israel and Florida, one more at large, according to report.
July 22, 2015
JPMorgan Chase & Co.'s 2014 data breach now has a face: four people in Israel and Florida have been arrested today in a securities fraud scheme related to the data breach of JPMorgan as well as other finanical insitutions, according to Bloomberg.
The criminal enterprise -- which spanned West Palm Beach, Florida, Tel Aviv, and Moscow -- reportedly falsely inflated low-volume stocks. A newly unsealed indictment says at least five stocks in 2011 and 2012 were abused in the operation, which included email campaigns and manipulative trading in a "pump and dump" scheme.
A fifth individual remains at large, according to the report.
For more information on this breaking story, read the Bloomberg report here.
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