WASHINGTON: A British man has been arrested and charged by US authorities with hacking into the computers of five companies to obtain details about their expected earnings and making $3.75 million of illegal profit by trading before results were released.
The US Department of Justice will seek the extradition of Robert Westbrook, 39, of London, to face securities fraud, wire fraud and five computer fraud charges contained in a criminal indictment made public on Friday.
Westbrook was arrested this week in the United Kingdom, and also faces related US Securities and Exchange Commission civil charges. His lawyer could not immediately be identified.
The companies were not identified by name in court papers filed in federal court in Newark, New Jersey.
Financial and stock price details in the SEC complaint suggest the companies are food container maker Tupperware, general contractor Tutor Perini, software provider Guidewire Software, gas station operator Murphy USA and telecommunications equipment maker Lumentum Holdings.
Authorities said Westbrook’s “hack-to-trade” scheme involved gaining access to executives’ email accounts between January 2019 and May 2020, and using material nonpublic information to buy stocks and options prior to at least 14 earnings announcements.
On several occasions, Westbrook allegedly implemented rules to have content from executives’ email accounts automatically forwarded to his own accounts.
Jorge Tenreiro, acting chief of the SEC’s crypto assets and cyber unit, called Westbrook’s activity a “sophisticated international hacking,” including the use of anonymous email accounts, VPN services, and bitcoin to conceal wrongdoing.
None of the five companies was accused of wrongdoing.
The securities fraud and wire fraud counts each carry a maximum 20-year prison term, while each computer fraud count carries a maximum five-year term.
US charges British man over ‘hack-to-trade’ scheme
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US charges British man over ‘hack-to-trade’ scheme
- The US Department of Justice will seek the extradition of Robert Westbrook, 39, of London, to face securities fraud, wire fraud and five computer fraud charges
- Westbrook was arrested this week in the United Kingdom, and also faces related US Securities and Exchange Commission civil charges
UK cyclists to ride from Makkah to Madinah to fundraise for children in Africa
- H&K Cycle Club to travel through Hejaz region for fifth successive year, aim to raise £1m
- ‘Every kilometer we ride is fueled by the strength of the children we ride for,’ says head of club
LONDON: A cycling team from London will undertake a journey of 550 km from Makkah to Madinah in Saudi Arabia later this month to raise funds for children in Africa with congenital heart defects.
The H&K Cycle Club will take on the challenge through the Hejaz region for the fifth successive year, aiming to raise £1 million (SR5 million) after raising over £750,000 for lifesaving surgeries last year.
Shamsul Abdin, the head of the H&K Cycle Club, said: “Every kilometer we ride is fueled by the strength of the children we ride for. Their courage inspires us to push through the most punishing moments.”
Abdin was awarded the MBE (Member of the Order of the British Empire) in December for his contribution to charitable fundraising.
He added: “This fifth anniversary ride is more than a milestone: it’s a celebration of hope, perseverance, and the lives we’ve been able to save together.”
The cyclists expect to face scorching heat, brutal headwinds, dangerous highways and physical exhaustion. For many riders, this will be their fifth ride in Hejaz, Abdin said.
Funds raised will support Muntada Aid’s Little Hearts project, which provides free, lifesaving surgeries for children across Africa. The project has helped nearly 3,500 children in 15 countries since its inception in 2012.
Kabir Miah, programs manager at Muntada Aid, said: “Every pound raised gives a child the chance to live a long and healthy life.”
