The nine of these were arrested by federal agents in morning raids on Tuesday in Georgia and Pennsylvania.
The modus operandi of the hackers and inside traders was simple.
The money was then transferred offshore through Estonian banks.
More than $30 million was made in the scheme, according to sources.
While PRNewswire chose not to comment immediately on the charges, the other newswires could not be contacted.
At the same time, parallel civil case against some of the individuals is being pursued by the SEC.
The nine defendants extend across two or perhaps three countries.
Described as the lynchpin of the markets strategy, only one professional trader was arrested in Pennsylvania.
Before commencing on his own hedge fund, he ran a mutual fund and worked on Wall Street.
However, the other members of the group do not have similar financial qualifications.
They include themselves in construction businesses and myriad real estate.
source: www.techworm.net
