Nine charged with making $30m hacking into business newswires

Suspects in the US and Ukraine accused of reading corporate press releases before they came out, and then trading on that information ahead of the pack on Wall Street

Nine people in the US and Ukraine were charged on Tuesday with making $30m by hacking into business newswire services, reading corporate press releases before they came out, and then trading on that information ahead of the pack on Wall Street.

Federal authorities said it was the largest scheme of its kind ever prosecuted. In a measure of the scope of the alleged conspiracy, the US Securities and Exchange Commission brought related civil charges against the nine plus 23 other people.