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Man Accused of Hacking Office365 Accounts for Stock Trading Profits
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A UK man, Robert B. Westbrook, allegedly made $3.75 million by hacking into executives' Office365 accounts. He accessed quarterly financial reports before they went public, allowing him to trade stocks profitably. When he expected stock prices to drop, he bought "put" options, which let him sell shares at a set price later. For rising stocks, he bought low and sold high.
Westbrook faces charges of securities fraud, wire fraud, and computer fraud. Securities fraud carries up to 20 years in prison and $5 million in fines. Wire fraud penalties are up to 20 years and a fine of $250,000 or twice the gain or loss. Computer fraud charges each carry up to five years and a similar fine.
The SEC, despite Westbrook's use of anonymous emails, VPNs, and bitcoin, tracked him using advanced data analytics and crypto tracing. This case highlights the SEC's efforts to combat cyber fraud and protect markets.
| Scores | Value | Explanation |
|---|---|---|
| Objectivity | 6 | Comprehensive reporting with in-depth analysis. |
| Social Impact | 4 | Strong social discussion, influencing some public opinion. |
| Credibility | 5 | Solid evidence from authoritative sources. |
| Potential | 5 | Very high potential to trigger larger events. |
| Practicality | 4 | Highly practical, directly applicable. |
| Entertainment Value | 3 | Some entertainment value, attracts a portion of the audience. |