http://www.computerworld.com/s/article/9192120/Man_pleads_guilty_to_using_hack_pump_and_dump_botnet By Robert McMillan IDG News Service October 20, 2010 A Chandler, Ariz., man has pleaded guilty to charges related to his role in a pump-and-dump scam that inflated penny stock prices via spam and hacked computers. James Bragg, 41, faces five years in prison and a $250,000 fine for orchestrating the hacking and spamming portions of the scheme, which ran between November 2007 and February 2009, according to prosecutors. He pleaded guilty Wednesday in U.S. District Court for the District of New Jersey. Bragg used a Russian botnet operator, named only as B.T. in court documents, to send the spam and to access hacked brokerage accounts and buy the penny stocks without the victim's knowledge. The case sheds some light into the murky world of penny stock manipulation, where companies hire shady promoters to boost their stock prices. The promoters appear to be legitimate marketing and public relations firms, but some of them use illegal practices such as spamming to achieve results. [...] ___________________________________________________________ Tegatai Managed Colocation: Four Provider Blended Tier-1 Bandwidth, Fortinet Universal Threat Management, Natural Disaster Avoidance, Always-On Power Delivery Network, Cisco Switches, SAS 70 Type II Datacenter. Find peace of mind, Defend your Critical Infrastructure. http://www.tegataiphoenix.com/Received on Wed Oct 20 2010 - 22:52:16 PDT
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