Indian Man Pleads Guilty to Stock Brokerage Hacking Scheme
By wchung | 09 Jun, 2026
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.
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.
2/6/2010 5:21 AM OMAHA, Neb. (AP)
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