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Indian on hacking charges extradited to US

Indian on hacking charges extradited to US

An Indian man who pleaded not guilty to hacking into online brokering accounts has been extradited to the US from Hong Kong.

Jaisankar Marimuthu, 34, of Chennai, is charged with hacking online to to manipulate stock prices.

Marimuthu had already been arrested by Hong Kong police on similar charges, the US Department of Justice (DoJ) said.

He is the latest to face charges in what authorities described as an international "hack, pump and dump" scheme. He entered a not guilty plea in US District Court for the District of Nebraska on June 25, according to court records.

Marimuthu and two other men allegedly made millions manipulating prices of several stocks, including Google. They hacked into more than 60 accounts in nine brokerage firms, one firm lost more than US$2 million because of the scam.

Another man, Thirugnanam Ramanathan, pleaded guilty to fraud charges stemming from the scheme and was sentenced to two years in prison in September. However he was deported in January before serving his full sentence.

A third man, Chockalingam Ramanathan, has been charged in the US but is still at large.


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