April 18, 2013 |
A member of the LulzSec hacker group was sentence to a year in federal prison Thursday as a result of his involvement with a cyberattack in 2011. The U.S. District Court for the Central District of California ordered Cody Andrew Kretsinger, a 25-year-old Decatur, Ill., resident to also serve a year of home detention after he completes his time in prison. He will also be required to perform 1,000 hours of community service and pay more than $605,000 in restitution. Kretsinger, who went by the name of "recursion" during his days with LulzSec, pleaded guilty last year to conspiracy and unauthorized impairment of a protected computer in connection with the hacker group's attack on Sony Pictures Entertainment's computer systems in May and June 2011.
April 11, 2013 |
NEW YORK -- Former KPMG senior auditor Scott London leaked confidential information on five companies, illegal tips that won him $50,000 in bags of cash as well as other perks, the U.S. Securities and Exchange Commission alleged. Previous reports of the insider-trading scheme involving London and his friend Bryan Shaw focused on confidential information related to nutritional supplement maker Herbalife and footwear company Skechers, two firms whose audits London oversaw. The SEC's complaint, released Thursday, alleges London also passed information about Deckers Outdoor Corp., a company for which London served as the account executive.
April 10, 2013 |
Investors who lost big when Bernard Madoff's Ponzi scheme unraveled cannot sue federal regulators, despite the government's “regrettable inaction,” a federal appeals court ruled. Madoff victims had sued, arguing that the Securities and Exchange Commission was negligent for failing to uncover the Ponzi scheme even though the regulator received multiple complaints over the years. On Wednesday in New York, the U.S. Court of Appeals for the Second Circuit dismissed those claims, agreeing with a district court that the SEC's actions or inaction are protected under the law. Madoff is currently serving a 150-year prison sentence for his multibillion-dollar Ponzi scheme that came to light in December 2008.
April 9, 2013 |
A British man has pleaded guilty to his involvement in cyberattacks launched by LulzSec, an Internet hacker group that in 2011 targeted the websites of Sony, the FBI, CIA, PBS and others. Ryan Ackroyd, 26, otherwise known as "Kayla" among hackers, admitted Tuesday to one count of carrying out an unauthorized act to impair the operation of a computer, according to the Associated Press. Ackroyd joins Mustafa Al-Bassam, 18, Jake Davis, 20, and Ryan Cleary, 21, who as members of the group pleaded guilty to the 2011 cyberattacks.
April 8, 2013 |
WASHINGTON -- The Senate on Monday confirmed Mary Jo White to chair the Securities and Exchange Commission, placing a tough former prosecutor in the role as Wall Street's top watchdog. White was confirmed by a unanimous voice vote in the Senate, an indication of broad bipartisan support. The Senate Banking Committee voted 22-1 to approve her nomination last month, with the only no vote coming from Sen. Sherrod Brown (D-Ohio). Brown has been critical of federal officials in general for not being tougher on Wall Street.
April 2, 2013 |
SAN FRANCISCO -- The Securities and Exchange Commission says companies can use social media such as Facebook and Twitter to disseminate key information just as they already do on corporate websites. But, the agency said, companies must make it clear that they plan to make that information available on social media outlets so that investors know where to look for it. The SEC issued guidance in 2008 allowing companies to post information on websites as long as they alert investors.