In New York, the Russian-speaking pastor was convicted of a securities scam worth $ 30 million

A court in the Eastern District of New York found convicted of securities fraud of ex-vice president of Morgan Stanley, an immigrant from the former USSR (Kazakhstan) Vitaly Korchevsky.

Vitaly Korchevsky.
Screenshot from video

According to the American prosecutor's office, as a result of his illegal activities, Korchevsky made a profit of $ 30 million, writes “Merchant".

The defendant did not admit his guilt, arguing that he himself was the victim of fraudsters.

In addition to Korchevsky, two other attackers appear in the case, one of whom is Ukrainian and the other is Russian citizenship. All of them are charged with participation in a criminal insider scheme, which allowed them to extract illegal profits in the amount of $ 30 million.

The scheme involved hackers who obtained the information affecting the quotes before it was officially made public, and traders who use the information obtained for dealing operations.

According to the investigation, the criminal group worked in this way for about five years, hacking into the websites of distributors of financial press releases - MarketWired, PR Newswire and Business Wire.

Based on the information received, traders have completed stock transactions with Acme Packet Inc., Align Technology Inc., Caterpillar Inc., Dealertrack Technologies Inc., Dendreon Corp., Edwards Lifesciences Corp., Panera Bread Co. and Verisign Inc.

The creators of the scheme were hackers Arkady and Igor Dubovye, who were charged with 23 points, including fraud, participation in insider schemes and laundering of criminal funds. Father and son Dubovy admitted their guilt in the 2016 year, shortly after the arrest, and at the trial acted as witnesses for the prosecution. They told the jury that they had stolen over 150 thousands of press releases containing important information for the markets.

Within the framework of the scheme, Korchevsky managed to make a profit on investments in the amount of 116%, at the same time a trader Vladimir Khalupsky was convicted, who multiplied the amount of investments by 124%. He also pleaded not guilty.

Throughout the process, representatives of the congregation of Korchevsky, who heads the Russian-speaking Slavic Church of Evangelical Baptists for people from Russia and Ukraine in Pennsylvania, were present in the hall.

During the breaks, the Protestants stood up in a circle in the corridor and read prayers in honor of the righteous trial; they are convinced that their spiritual leader is innocent.

Pastor Korchevsky also runs a popular religious channel on YouTube, delivering sermons to followers of Christ.

The verdict to Vitaly Korchevsky and Vladimir Khalupsky will be passed within a few months.

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