Indian national admits to hacking TD Ameritrade, other online brokerages

An Indian man has pleaded guilty to participating in a scheme to access online brokerage accounts to jack up stock prices and reap thousands of dollars in illegal profits.
FEB 25, 2010
An Indian man has pleaded guilty to participating in a scheme to access online brokerage accounts to jack up stock prices and reap thousands of dollars in illegal profits. Jaisankar Marimuthu pleaded guilty Friday to several charges, including securities fraud and identity theft. Marimuthu faces up to seven years in prison when he is sentenced on April 26. The Justice Department says Marimuthu is one of three men involved in a "hack, pump and dump" scheme that affected at least 95 customers and nine U.S. brokerages, including Omaha-based TD Ameritrade. According to the indictment, Marimuthu was part of the conspiracy operated out of Thailand and India from February 2006 through December 2006. In 2008, Thirugnanam Ramanathan was sentenced to two years in prison and ordered to pay $362,000 for his role. He has been returned to India. Chockalingham Ramanathan remains at large.

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