The SEC said a trader based in Latvia broke into online brokerage accounts of customers at large U.S. broker-dealers and manipulated prices in more than 100 New York Stock Exchange and Nasdaq Stock Market securities.
The accused, Igors Nagaicevs, made more than $850,000 in illegal profits, trading on stocks ranging from Landry’s Restaurants to SkyPeople Fruit Juice using the hacked accounts.
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