Federal grand juries in New Jersey and New York have indicted a total of nine individuals for allegedly violating the anti-fraud provision of the Securities Exchange Act (the “Exchange Act”) and committing wire fraud, computer fraud, identity theft and money-laundering offenses.1 The prosecutions are the first by the US Department of Justice (the “DOJ”) alleging that cyber criminals hacked computers and obtained material, nonpublic information in order to commit securities fraud.
