Accused JPMorgan Hack Mastermind Pleads Not Guilty in U.S.

  • Hackers used data to fuel pump-and-dump scheme, U.S. alleged
  • Criminal enterprise made hundreds of millions, U.S. said

An Israeli who the U.S. said orchestrated the biggest-ever theft of customer data from U.S. financial institutions, including JPMorgan Chase & Co, pleaded not guilty to wire fraud and money laundering charges after being extradited to New York.

Gery Shalon, the self-described founder of a sprawling cybercriminal enterprise that had hundreds of employees, according to the U.S., and Ziv Orenstein, his alleged top lieutenant, were both ordered held without bail by a magistrate judge.

The men are tied to previously reported hacks of JPMorgan, E*Trade Financial Corp., Scottrade Financial Services Inc. and Dow Jones & Co., a unit of News Corp. Working with a hacker group that operated in more than a dozen countries, they allegedly made hundreds of millions of dollars from pump-and-dump stock scams, illegal Internet casinos and a payment-processing service for criminals…

Accused JPMorgan Hack Mastermind Pleads Not Guilty in U.S.

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