Motley Fool Stock-Pick Hacker Charged With Securities Fraud
May 3, 2022, 11:26 AM
An Idaho man who allegedly managed to access stock picks by personal finance website Motley Fool before publication and made millions of dollars trading on the information has been charged with securities fraud.
David Stone, 36, was charged Tuesday by federal prosecutors in Manhattan over trades placed between 2020 and 2022. The U.S. Securities and Exchange Commission filed a tandem civil complaint against Stone that also named a friend, John D. Robson, also of Idaho, as complicit in the scheme. The SEC identified the investment advisory service from which the stock picks were stolen as Motley Fool.