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Ukrainian Hacker Gets 2 1/2 Years for Stealing News Releases

  • Iermolovych admitted his role in network that made $30 million
  • U.S. charged five people in New Jersey, four in Brooklyn
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Photographer: Krisztian Bocsi/Bloomberg
Updated on

A Ukrainian hacker was sentenced to 2 1/2 years in prison for stealing unpublished news releases that helped a criminal network make $30 million trading securities with nonpublic information about corporate earnings.

Vadym Iermolovych, 29, was sentenced Monday in federal court in Newark, New Jersey, where he previously pleaded guilty to working with two other Ukrainian hackers to steal 150,000 releases from computer networks at PR Newswire, Business Wire and Marketwired. He was the fourth person to plead guilty in Newark or Brooklyn, New York, and the first hacker to do so.