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NYC man pleads guilty to securities fraud in NJ

Local News | Jul 26, 2013

NYC man pleads guilty to securities fraud in NJ

NEWARK, N.J. (AP) — A Russian national living in New York has admitted to his role in a ring that prosecutors say stole about $1 million by hacking into retail brokerage accounts and executing sham trades.

Thirty-three-year-old Petr Murmylyuk of Brooklyn, also known as Dmitry Tokar, pleaded guilty Thursday in Newark to a count of conspiracy to commit securities fraud.

The U.S. Attorney’s office in New Jersey says the ring stole from online trading accounts at several brokerage firms.

After gaining unauthorized access to the accounts, the hackers changed personal information so the victims wouldn’t be alerted to unauthorized trading.

They then used stolen identities to open additional online accounts and caused their victims’ accounts to make unprofitable and illogical securities trades that benefited the hackers.