Authorities arrested four people involved in a complex fraud that allegedly used data stolen from JP Morgan and other financial institutions, according to a Bloomberg news report.
Two Israeli residents were arrested and charged in the US with running a multimillion-dollar stock manipulation scheme. Simultaneously, two men in Florida, Anthony Murgio and Yuri Lebedev, were accused of operating an illegal money-transfer business using bitcoins. A fifth man was charged, but is still at large.
Two of those involved were associates and have been previously mentioned by the FBI in the investigation of the JPMorgan breach. Their names have also appeared in connection to incidents at Fidelity Investments Ltd. and E*Trade Financial Corp.
Apparently, the Two Israeli men, Gery Shalon and Ziv Orenstein, were involved in a pump-and-dump plot that used bulk emails and pre-planned trades to boost certain stock prices to their benefit. Apparently, the gang gained millions of dollars as a result.
In October 2014, JPMorgan disclosed that hackers had accessed information such as names and addresses of 76 million customers and 7 million businesses.