British Man Accused in U.S. Cyber-Trading Scheme Worth Millions in Damages

A British man has been charged by U.S. authorities in connection with a complex hacking scheme that allegedly netted millions through illicit stock trading based on stolen corporate information. The 39-year-old, a London resident, is accused of infiltrating the email accounts of employees at five publicly listed U.S. companies, including household names such as Tupperware and Murphy USA. Prosecutors claim he accessed sensitive, non-public financial data and used it to trade shares in advance of earnings announcements, making approximately $3.75 million in profits between January 2019 and May 2020.

The man, whose name was not immediately disclosed in early reports, was arrested in the UK and now faces extradition to the United States, where he would stand trial in New Jersey. The charges brought against him include securities fraud, wire fraud, and multiple counts of computer fraud. Each securities and wire fraud count carries a maximum sentence of 20 years in prison, while the computer fraud charges carry potential sentences of up to five years each.

According to the U.S. Department of Justice and the Securities and Exchange Commission, the accused employed a variety of advanced techniques to conceal his actions. These included using virtual private networks (VPNs), encrypted email services, and automated email forwarding rules to access confidential earnings data without detection. Once the information was obtained, prosecutors say it was used to conduct trades through U.S. brokerage accounts, with profits converted into bitcoin to further obscure the financial trail.

Officials describe the case as a striking example of a “hack-to-trade” operation, a growing form of cyber-enabled financial crime where stolen data is exploited for direct market gain. U.S. authorities are increasingly focused on such schemes, which not only threaten financial institutions but also undermine trust in capital markets.

The extradition request signals a continued commitment by U.S. law enforcement to pursue cybercriminals beyond its borders. It also reflects growing international cooperation in tackling digital financial fraud at a time when markets are more interconnected and vulnerable than ever before.

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