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Scammer Traded From Other People’s Hacked Accounts, US Says

May 10, 2022, 8:24 PM

A man who allegedly gained access to other people’s brokerage accounts and conducted trades that generated profits for him while causing $5 million in losses for them was charged by federal prosecutors.

The US attorney’s office in Brooklyn, New York, on Tuesday unsealed charges and an arrest warrant for Idris Dayo Mustapha, alleging a scheme that stretched from 2011 to 2018.

Mustapha, 32, and unidentified co-conspirators initially accessed victims’ brokerage accounts and transferred money out of them to other accounts they controlled. But they later began placing unauthorized stock trades, driving stock movements that ultimately lost their victims’ money while ...

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