Vladislav Klyushin is on trial in Boston for securities fraud… Interesting case.
I guess good 'ol Vlad and his buddies (allegedly) had a good gig going according to the DOJ. He (or his friends at his company M-13) hacked into two companies that disseminate and publish quarterly financial reports and were able to front-run trades knowing what the news would be days ahead of the quarterly earnings reports being published to the public. He turned 2 Million into 92 million in about two years. Ca-ching!!!
According to the DOJ:
Between at least in or about January 2018 and September 2020, Klyushin, Ermakov, Irzak, Sladkov and Rumiantcev allegedly agreed to trade in the securities of publicly traded companies based on material non-public information (“MNPI”) about the earnings of those companies, in advance of the public announcements of financial results. The MNPI was allegedly acquired through unauthorized intrusions into the computer networks of two U.S.-based filing agents (Filings Agents 1 and 2)—vendors that publicly traded companies used to make quarterly and annual filings through the U.S. Securities and Exchange Commission (SEC).
Armed with this information before it was disclosed to the public, Klyushin and his codefendants allegedly knew ahead of time, among other things, whether a company’s financial performance would meet, exceed, or lag market expectations—and thus whether its share price would likely rise or fall following the public announcement of that performance—and they traded accordingly, in brokerage accounts held in their own names and in the names of others. It is alleged that Klyushin and his co-conspirators earned tens of millions of dollars in illegal profits.
'38Packard
→ now his “can” is sitting in the defendant’s chair - hoping he gets the message crime doesn’t pay.