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Russian Oligarch's $93 Million Insider Trading Scandal
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Vladislav Klyushin, a Russian oligarch, orchestrated a $93 million fraud through his company, M-13. The scheme involved hacking into American corporate earnings reports before they were made public. Klyushin and his team then traded stocks based on this insider information, reaping substantial profits.
M-13 targeted companies such as Tesla, Snapchat, and Roku. They stole Tesla's earnings report before its release, purchased stock, and profited when the stock price surged. The FBI eventually uncovered the operation and charged Klyushin and his associates with hacking and insider trading.
In 2023, Klyushin was sentenced to nine years in an American prison. He was released in 2024 as part of a U.S.-Russia prisoner swap, which also included Wall Street Journal reporter Evan Gershkovich.
CNBC's Eamon Javers investigated this case, revealing how Russian hackers targeted U.S. investors. His documentary, "Putin's Trader," and accompanying podcast, "The Crimes of Putin's Trader," highlight the ongoing threat to American capital markets.
This case underscores a broader conflict between Russia and the West, with financial markets serving as a battleground. The integrity of American capital markets is at stake.
| Scores | Value | Explanation |
|---|---|---|
| Objectivity | 6 | Comprehensive reporting and in-depth analysis. |
| Social Impact | 5 | Significantly influenced public opinion. |
| Credibility | 5 | Solid evidence from authoritative sources. |
| Potential | 5 | Almost certain to trigger a larger event. |
| Practicality | 4 | Highly practical, applicable to real problems. |
| Entertainment Value | 3 | Some entertainment value, attracts audience. |