Newspaper article St Louis Post-Dispatch (MO)

Ukrainian Hacker Sentenced in Stolen News Releases Scheme

Newspaper article St Louis Post-Dispatch (MO)

Ukrainian Hacker Sentenced in Stolen News Releases Scheme

Article excerpt

NEWARK, N.J. * A Ukrainian hacker involved in an international scheme that used stolen unpublished news releases to make about $30 million in profits was sentenced Monday to more than two years in prison.

Vadym Iermolovych received a 30-month term and must pay slightly more than $3 million in restitution. He had pleaded guilty in May 2016 to aggravated identity theft and conspiracy to commit wire and computer hacking.

Iermolovych, 29, of Kiev, was among several people arrested in August 2015 in the U.S. and Ukraine, according to the U.S. attorney's office in New Jersey. From 2010 to 2015, authorities said the group gained access to more than 150,000 press releases that were about to be issued by Marketwired, PR Newswire in New York, and Business Wire of San Francisco. The press releases contained earnings figures and other corporate information. …

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