Indian Man Pleads Guilty to Stock Brokerage Hacking Scheme
By wchung | 09 Apr, 2026
An Indian man has pleaded guilty to participating in a scheme to access online brokerage accounts to jack up stock prices and reap thousands of dollars in illegal profits.
Jaisankar Marimuthu pleaded guilty Friday to several charges, including securities fraud and identity theft.
Marimuthu faces up to seven years in prison when he is sentenced on April 26.
The Justice Department says Marimuthu is one of three men involved in a “hack, pump and dump” scheme that affected at least 95 customers and nine U.S. brokerages, including Omaha-based TD Ameritrade.
In 2008, Thirugnanam Ramanathan was sentenced to two years in prison and ordered to pay $362,000 for his role. He has been returned to India.
Chockalingham Ramanathan remains at large.
2/6/2010 5:21 AM OMAHA, Neb. (AP)
Recent Articles
- 'Ghost Murmur' Used to Locate Downed Airman Was Trump's Bogus Reference to an Actual Technology
- House GOP Blocks Bid to Curtail Trump War Powers
- What Molecule Protects Your Brain, Fights Stress and Boosts Athletic Performance?
- Tesla Developing Smaller Cheaper EV
- Amazon Cloud Unit AI Revenue Exceeds $15 Billion on Annualized Basis
- List of Major AI Infrastructure Deals to Meet Booming Demand
- Mercedes Suffers Down Q1 on Plunging China Sales
- Intel and Google Expand Partnership to Address Demand for Versatile CPUs
- Chip Designer SiFive Raises $400 Million from Atreides, Nvidia to Step into Arm's Space
- Samsung Electronics Mulls Chip Testing and Packaging in Vietnam