U.S. SEC accuses U.K. man of hacking, fraudulent trades

The SEC said Mustapha, 30, generated at least $68,000 of profit.

The U.S. Securities and Exchange Commission sued a U.K. man it said hacked into online brokerage accounts of several U.S. investors, placed unauthorized stock trades, and within minutes made profitable trades in the same stocks in his own account.

A federal judge issued an emergency order freezing assets belonging to the defendant, Idris Dayo Mustapha, the SEC said on Wednesday, shortly after filing its civil lawsuit with the U.S. District Court in Manhattan.

To read the entire article, please click here.

Source: http://www.reuters.com/