Russian businessman guilty in hacking, insider trade scheme

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A Russian millionaire with ties to the Kremlin has been convicted of participating in an elaborate insider trading scheme using secret earnings information from companies such as Microsoft that was stolen from U.S. computer networks

BOSTON — — A Russian millionaire with ties to the Kremlin was convicted Tuesday of participating in an elaborate $90 million insider trading scheme using secret earnings information from companies such as Microsoft that was stolen from U.S. computer networks.

Klyushin was also close friends with a Russian military officer who was among 12 Russians charged in 2018 with hacking into key Democratic email accounts, including those belonging to Hilary Clinton's presidential campaign chairman, John Podesta, the Democratic National Committee and the Democratic Congressional Campaign Committee., who worked for Klyushin's company, was a hacker in the alleged insider trading scheme, alleged prosecutors.

Armed with this insider information, they were able to cheat the stock market, alleged prosecutors, who said Klyushin personally turned a $2 million investment into nearly $21 million, and altogether, the group turned about $9 million into nearly $90 million.

 

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