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Hacker in New York Jailed for Money Theft and Laundering

Aleksey Volynskiy, a man from New York, got a 3-year imprisonment because of the charges pertaining to bank fraud for his participation in a scam involving the hijacking of Internet brokerage and banking accounts, officials stated on April 8, 2010.

Particulars regarding the accusation reveal that between September 2006 and December 2007, Volynskiy along with Alexander Bobnev, his accomplice, tried to filch money from brokerage and bank accounts through a hacking scheme. For this, the duo utilized personal financial data gathered with the help of PC viruses so that the stolen proceeds could be laundered.

The two defendants employed Trojan horses to penetrate the PCs of numerous victims and captured their account details as they logged into their online brokerage and bank accounts.

Then, with those details, Volynskiy and Bobnev, along with other participants in the scheme, carried out illegal trade of securities and wire transfers. Simultaneously, they opened different "drop" accounts into which they deposited the stolen funds, and in this way, they veiled their spurious operation. They also transferred part of the funds to some Russian bank accounts.

However, the hackers' scheme got exposed when the federal officials cultivated Poughkeepsie, New York (USA) based informer. This informer provided the hackers' gang a routing code to open another "drop" account where the stolen funds could be transferred. However, the account in reality was under the control of law enforcement. The FBI (feds) observed the proceedings as two transfers of $4,700 and $15,400 came into the account from the two compromised trading accounts.

More information suggests that the authorities arrested Volynskiy on December 4, 2008. In due course, he admitted guilt on August 4, 2009 of committing five offenses comprising connivance to carry out wire fraud, illegally gaining admission into and destructing a protected PC, and laundering money.

Moreover, Volynskiy is additionally charged with apparently supplying the informer who actually assisted the FBI, 150 stolen credit card numbers during 2009 so that he could fit them into fake cards.

Finally, the judgment for Volynskiy comes soon after a Boston (US) District Judge sentenced a highly prolific hacker Albert Gonzales to a 20-year confinement to federal jail during the fourth week of March 2010.

Related article: Hacker & Virus in MySpace

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