US charge extradited Russian businessman with hacking, insider trading
The Russian businessman extradited from Switzerland to the United States and four other Russians have been charged with carrying out a $82-million (CHF75 million) insider trading scheme using data stolen during hacks of US computer networks.
This content was published on
3 minutes
Reuters/AP/sb
Español
es
EE.UU. acusa al empresario ruso extraditado de piratería y uso de información privilegiada
US federal prosecutors in Boston announcedExternal link on Monday that Vladislav Klyushin, the Kremlin-linked Russian businessman extradited from Switzerland on December 18, has been charged with “conspiring to obtain unauthorised access to computers, and to commit wire fraud and securities fraud, and with obtaining unauthorised access to computers, wire fraud and securities fraud”.
Four other Russian nationals were also charged as part of the scheme.
Klyushin, 41, who was arrested in Sion, Switzerland, on March 21 while reportedly on a ski trip to the mountain resort of Zermatt, appeared briefly from a Massachusetts jail during a virtual court hearing. A bail hearing is tentatively set for December 23.
Prosecutors accused him and others of trading on corporate earnings reports obtained by hacking into the computer systems of two vendors that help companies filing quarterly and annual reports with the US Securities and Exchange Commission.
Those companies included IBM Corp, Snap and Tesla. Prosecutors said Klyushin and employees of his company M-13 LLC placed trades for themselves as well for clients in exchange for a cut of their profits.
Hacked
Authorities said the computer systems were hacked into by Ivan Yermakov, an M-13 employee who was among several Russian military intelligence officers charged in 2018 with carrying out hacking schemes to interfere in the US 2016 presidential election and target anti-doping agencies.
According to the US Securities and Exchange Commission, which filed parallel fraud charges against the defendants Monday, they made a total of $82 million through the scheme from 2018 through 2020.
Yermakov and the three other defendants, M-13 director Nikolai Rumiantcev and two Russian businessmen, Mikhail Irzak and Igor Sladkov, remain at large.
Klyushin’s lawyers say the case is politically motivated. They argue that the real reason he was sought was his work and contacts within the Russian government. The TASS news agency cited the Russian embassy in Switzerland as saying it was another episode in Washington’s ongoing ‘hunt’ for Russians.
The US embassy in Bern formally requested Klyushin’s extradition in April on the basis of the bilateral extradition treaty between Switzerland and the US. Klyushin’s appeal against Swiss extradition was dismissed by the Federal Court on December 10.
Popular Stories
More
Multinational companies
Azeri fossil-fuel cash cow brings controversy to Switzerland
Beer sales in Switzerland watered down by bad weather
This content was published on
The past brewing year fell through in Switzerland, partly due to the bad weather. Beer sales shrank again. For the first time, per capita consumption fell below the 50 liter mark.
Compensation for Syrian after pregnant wife denied help on Swiss train
This content was published on
Switzerland’s Federal Court has partially upheld the appeal of a Syrian family being deported from Switzerland to Italy in 2014. The man now also receives compensation.
Swiss-EU negotiations: Cassis to meet Sefcovic in Bern
This content was published on
Swiss Foreign Minister Ignazio Cassis will meet the Vice-President of the EU Commission, Maros Sefcovic, in Bern on Wednesday.
Heavy snowfall in Switzerland causes traffic chaos and accidents
This content was published on
The heavy snowfall late on Thursday and during the night into Friday led to traffic chaos and many accidents in many regions of Switzerland.
Chimpanzee behaviours passed down through generations
This content was published on
Some of the complex behaviours of chimpanzees have been passed down and refined over generations. These include the combination of several tools for foraging.
More than 600,000 rounds of Swiss sniper ammunition reach Ukraine
This content was published on
Sniper ammunition from Swiss P Defence reached Ukraine via a Polish company in July 2023, reported SRF Investigativ on Thursday, citing official information.
Switzerland launches national digital inclusion alliance
This content was published on
The Swiss government launched the Swiss Digital Inclusion Alliance on Thursday with the goal of giving as many people as possible access to digital services.
This content was published on
A Russian businessman suspected of insider trading is being held in Switzerland ahead of possible extradition to the US, it has been confirmed.
You can find an overview of ongoing debates with our journalists here . Please join us!
If you want to start a conversation about a topic raised in this article or want to report factual errors, email us at english@swissinfo.ch.