Stocks, viruses and a disgruntled employee
A systems administrator has been charged with
attempting to manipulate a company's stock price by introducing a virus
into its computer system.
The New York Times reports that a systems administrator has been indicted on federal charges
of trying to manipulate the stock price of his employer's parent company by introducing a virus
into its computer system.
According to the newspaper, the indictment said that, in February and March 2002, suspect Roger Duronio
purchased a type of security which increases in value as a company's stock price
declines.
Duronio then introduced a virus to 1,000 of the 1,500 computers used by broker firm UBS PaineWebber in the hopes that the stock price of parent company UBS would fall - however the
virus failed to cause sufficient disruption to alter the UBS stock price.
Duronio's lawyer stated that his client would be pleading not guilty to the charges.
18 December 2002
Tags:
virus
del.icio.us 
digg this
