Hacking Update: DOJ Indicts Ukrainian for Trading on Inside Information

      After and investigation into illegal trades, the SEC notified the DOJ that they had ample evidence that a young man with Ukrainian roots had profited from restricted information gained from hacking into the SEC's database(s) used by corporations required to file timely reports.  The SEC has egg on its face because it has reprimanded companies and corporations that are publicly traded to assure that their computers are protected from hackers with the latest protective software.   The hacker was able to use simple means to gain access, placing account names in the names of family members and others who lived outside the US.   Millions of dollars in illicit gains were made by sevral participants in the scheme.
      Named were the following individuals:  David Kwon;  Sunglin Cho; Andrey Sarafanov;  Ivan Olefir;  Victoria Vorochek; and Igor Sabodakha.  Two companies involved were identified:  Spirit Trade and Capyield.   The principal involved is Oleksander Ieremenko and he worked with traders in Russya, Ukraine, and Los Angeles.  Stupidly, but not out of character, the young man bragged on social media of his "successes".   He had been involved in an earlier hacking effort identified in the recent SEC complaint.   Mr. Ieremenko might wish that he was not so cavalier about his hacking efforts.  He will no doubt have to look for a new line of work after he is extradited to the US, tried and convicted of breaking the law.   Perhaps a stiff fine will accompany his prison sentence, probably 10 years or so.  He'll only be about 38 when released so he can return to Kiev and resume a new life as a convicted felon who paid for his crimes.   His Russyan compatriots will only laugh at his fate as they are able to enjoy their freedoms in the largest country in the world, the one that is losing population at a terrific rate and stands to achieve a total population of about 110 million by 2050.  Such a fall will only increase as 100 year old leader Vladimir Putin takes off his shirt and wades into a stream to catch a trout held by one of his staff while the other member holds the camera.