Pastor convicted of hacking, insider trading gets five years prison: NY judge [Reuters]
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Source: Reuters
Pastor convicted of hacking, insider trading gets five years prison: NY judge | Reuters 3 Min Read NEW YORK (Reuters) - A former hedge fund manager who also worked as a pastor was sentenced on Thursday to five years in prison after being convicted of insider trading on non-public corporate press releases stolen by computer hackers. Vitaly Korchevsky, 53, was sentenced by U.S. District Judge Raymond Dearie in Brooklyn after being convicted by a jury last July on two securities fraud counts and three conspiracy counts. The judge also fined Korchevsky $250,000 and ordered the Glen Mills, Pennsylvania, resident, who was born in Kazakhstan, to forfeit $14.4 million. Korchevsky was among 10 people, including seven traders and three Ukraine-based hackers, criminally charged in Brooklyn and New Jersey over the theft of more than 150,000 press releases from Business Wire, Marketwired and PR Newswire that had yet to be made public from February 2010 to August 2015. Authorities said traders reap
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