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A man in India was sentenced to close to seven years in prison and ordered to pay restitution of around $2.5 million for hacking into the brokerage accounts. He then used the compromised accounts to manipulate stock prices.
Jaisankar Marimuthu, 36, of Chennai, India, was ordered by the court to pay around $2.5 million is restitution to over 90 victims and seven brokerage firms. Back in February, he plead guilty to charges of conspiracy to commit wire fraud, securities fraud, computer fraud and aggravated identity theft in a court in Omaha.
Last year, he was arrested in Hong Kong and extradited to the U.S. One accomplice was sentenced to two years in prison and the other is still at large.
