U.S. authorities are preparing to charge a group of traders and computer hackers for scheming to get early access to press releases about mergers and acquisitions and trade on them before they became public, The Wall Street Journal reported, citing unnamed sources familiar with the matter. The Securities and Exchange Commission (SEC) is also expected to unveil related civil charges as early as Tuesday.
Federal prosecutors in Brooklyn and New Jersey will announce charges against more than a half-dozen people with securities fraud and other charges. Officials believe the scheme netted tens of millions of dollars in illicit profits.Financial Crimes Go Cyber
The case [...]