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Arrests Made In JPMorgan Hack, Securities Fraud Scheme
Four individuals arrested in Israel and Florida, one more at large, according to report.
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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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