NEW DELHI — Indian police have detained a Ukranian man charged in the US over a hacking case involving the theft of 40 million credit and debit card numbers, police said Wednesday.Sergey V. Storchak was detained after he landed in New Delhi on a domestic flight from the southwestern holiday state of Goa on Monday, a police spokesman said.He is one of 11 people wanted by the US Justice Department in “the largest hacking and identity theft case ever prosecuted,” according to a statement on the department’s website dated August 2008.Besides Storchak, three Americans, two Ukrainians, two Chinese, one Estonian, a Belarussian and an unidentified suspect were on the wanted list, the justice department said.The group is accused of obtaining credit and debit card numbers by hacking into the computer networks of major US retailers — including book seller Barnes and Noble, OfficeMax, shoe retailer DSW and Sports AuthorityOnce inside the network, “sniffer programmes” captured credit card numbers, passwords and account information. The data was stored in encrypted servers controlled from eastern Europe and the United States.Some stolen numbers were sold to other criminals, while others were encoded on blank cards and used to withdraw tens of thousands of dollars from bank machines, the statement says.The Mail Today reported Storchak was arrested after a tip-off by the US Federal Bureau of Investigation (FBI).”His photo was handed over to the CISF (Central Indian Security Force) personnel so that they could identify him,” said an unnamed Delhi police official quoted by the report.”His presence was also confirmed by the airline official as his name was there on the passenger list.”The FBI will have to formally apply for Storchak’s extradition to take him to the United States, the report said.
Posts Tagged ‘Us Justice Department’
Ukrainian detained in India for giant US fraud case – google.com/hostednews -
May 13th, 2010 
Before You Invest 
Posted in Finance Fraud 
Tags: Airline Official, Barnes And Noble, Blank Cards, Cisf, Credit Card Numbers, Debit Card Numbers, Encrypted Servers, Fraud Case, Google, Indian Police, Indian Security, Investigation Fbi, Network Sniffer, Obtaining Credit, Officemax, Police Spokesman, Shoe Retailer, State Of Goa, Theft Case, Us Justice Department 
Comments OffHedge funds under investigation for driving down the value of the euro
March 4th, 2010 Before You Invest The US Justice Department has launched an investigation into several hedge funds over allegations they have been working together in an attempt to lower the value of the euro.People close to the matter told the Wall Street Journal that the department has sent a letter to several funds, including well-known names such as Soros Fund Management and Paulson & Co, asking them to keep hold of their records relating to trading on the euro.SAC Capital Advisers and Greenlight Capital have also received the communication from the Justice Department, it was reported.Last week, an article by the paper stated that hedge fund members had met up at a so-called “thoughts dinner” in which the falling value of the euro was discussed.Following the meeting, a research note was leaked which summarized the comments made by one SAC portfolio manager who was in attendance.”The presenter’s way to play this is to small the euro,” said the report of the comments.”Basically the stock market right now is effectively trading on the euro … it’s one of the most liquid instruments you can trade.”The unnamed man also predicted that the euro could end up trading at between $0.90 and $1.20 – below its current level of $1.36.But, insiders told the Wall Street Journal that it may be hard to prove whether such information sharing constitutes an act of collusion.”Charges relating to collusion on Wall Street have been a rarity because of the difficulty of proving that firms intentionally sought to act together and acted nefariously,” said the paper.The inquiry comes during a period in which the euro has fallen ten per cent in value since December.Earlier this week, an unnamed strategist told the Financial Times that hedge funds were profiting from bets on European banks cutting their exposure to the Greek economy.
Posted in Finance Fraud Tags: Collusion, European Banks, Financial Times, Fund Members, Greek Economy, Greenlight Capital, Hedge Fund, Information Sharing, Insiders, Paulson, Portfolio Manager, Rarity, Sac Capital Advisers, Soros Fund Management, Stock Market, Strategist, Unnamed Man, Us Justice Department, Value Of The Euro, Wall Street Journal Comments OffUBS and US government reach tax dispute deal
August 13th, 2009 Before You Invest UBS has reached an agreement with the US government that will result in the Swiss bank settling a dispute over tax evasion out of court.Stuart Gibson, US justice department lawyer, said that both parties have settled on the details of a contract.But, Mr Gibson added that it will “take a small time for the agreements to be signed in final form”.Details of the arrangement, such as how many names of the US customers that hold offshore accounts at UBS will be revealed to the government, were not divulged.Florida-based tax lawyer William Sharp told the Associated Press that it is unlikely that such a go would have been made without a “substantial handover” of details.He predicted that “at least several hundred, if not thousands” of names have been supplied to the authorities.Shares in UBS fell earlier this week due to the ongoing negotiations, but have now rebounded on the news.
Posted in Finance Fraud Tags: Authorities, Florida Lawyer, Florida Tax, Handover, Justice Department Lawyer, Little Time, Many Names, Mr Gibson, Negotiations, Offshore Accounts, Shares, Stuart Gibson, Swiss Bank, Tax Dispute, Tax Evasion, Tax Lawyer, Ubs, Us Justice Department, William Sharp No Comments »
