Indian man pleads guilty in brokerage hacking scam
From AP News | 2010-02-05 21:21:42
<div id="subtitle">Indian man pleads guilty in Omaha to hacking scheme affecting TD Ameritrade, others</div><div><p>An Indian man has pleaded guilty to participating in a scheme to access online brokerage accounts to jack up stock prices and reap thousands of dollars in illegal profits.</p><p>Jaisankar Marimuthu pleaded guilty Friday to several charges, including securities fraud and identity theft.</p><p>Marimuthu faces up to seven years in prison when he is sentenced on April 26.</p><p>The Justice Department says Marimuthu is one of three men involved in a "hack, pump and dump" scheme that affected at least 95 customers and nine U.S. brokerages, including Omaha-based TD Ameritrade.</p><p>In 2008, Thirugnanam Ramanathan was sentenced to two years in prison and ordered to pay $362,000 for his role. He has been returned to India.</p><p>Chockalingham Ramanathan remains at large.</p><img src="http://admatch-syndication.mochila.com/images/ad.gif?aid=68534741&bid=informcom" /></div><div id="copyright"><div>
Copyright 2010 <a href="http://www.ap.org">AP News</a></div></div>
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