An Indian national was sentenced today to 81 months in prison on conspiracy and aggravated identity theft charges arising from an international fraud scheme to “hack” into online brokerage accounts in the United States and use those accounts to manipulate stock prices, announced Assistant Attorney General Lanny A. Breuer of the Criminal Division and U.S. Attorney Deborah Gilg of the District of Nebraska.
Jaisankar Marimuthu, 36, a native of Chennai, India, was also ordered to pay $2.4 million in restitution. Marimuthu pleaded guilty on Feb. 5, 2010, to one count of conspiracy to commit wire fraud, securities fraud, computer fraud and aggravated identity theft, and to one count of aggravated identity theft before U.S. District Magistrate Judge F.A. Gossett III in Omaha, Neb. Marimuthu, who was extradited to the United States following his arrest in Hong Kong, was sentenced today before U.S. District Judge Laurie Smith Camp.
Source: http://cyberlaws.us/indian-national-sentenced-to-81-months-in-prison-for-role-in-international-online-brokerage-“hack-pump-and-dump”-scheme/
From my point of view, two legal issues that can be identified here in this case are jurisdiction and computer crime issue.
ReplyDeleteTo help readers of this blog to have a better understanding of the mentioned issues, later I'll upload two separete posts to explain each issue in depth. But for this case's purpose, I'm interested to address the jurisdiction issue. So, as it's clear from the case's content, whatever we commit using the Internet that may have some effects on other peolpe, no matter where they live and where we're (as the Internet users) living, would result in other courts (countries) to have jurisdiction over our action because our action might have had an effect on other people's lives and their legal rights. In fact, this issue is called "cause and effect" in the context of cyberlaw.
Interesting case! I believe you're on the right track in your judgement. Waitting for your posts in reagrd to above mentioned issues.
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