Teen charged in cyber stock scam

Teen charged in cyber stock scam
Kevin Poulsen, SecurityFocus 2003-10-09

Federal officials filed securities fraud and computer crime complaints Thursday against a Pennsylvania teenager who allegedly used a Trojan horse and someone else's online brokerage account to sell thousands of worthless stock options to an unwilling buyer.

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Teen charged in cyber stock scam 2003-10-09
Anonymous (1 replies)

My first question is: a 19 year-old with $90,000 in options? I'm in the wrong business.

Hopefully the feds are investigating how he came across the money in the first place....

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Teen charged in cyber stock scam 2003-10-09
Anonymous (1 replies)

Pretty clever scheme. Though cross checking the variables:

cisco options

47,000 dollars missing

buy / sell

will immediately point back to him....

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Teen charged in cyber stock scam 2003-10-13
Anonymous

Should have found more the one person to cover his tracks, not very smart ;P It would have still pointed back to him but would have taken longer to trace giving him enough time to move the money off shore. Well at least he went for the gold and not just the glory ;)...

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Teen charged in cyber stock scam 2003-10-09
Das Klean Sock (1 replies)

The FBI should be spending their time busting people like this dude and not wasting time busting people such as Lamo....

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Teen charged in cyber stock scam 2003-10-09
Anonymous

The kids get busted. The pros keep the money....

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the funny thing is 2003-10-10
Anonymous (1 replies)

the govt uses this to try and say they have a clue on computer crimes but in reality this would be an easy case to solve when you consider even the minimal amount of info provided

haha...

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the funny thing is 2003-10-10
Anonymous (1 replies)

AMEN! Having a team of security specialists that solved the crime... as if! What was the label on this again..? War on computer terrorism!?! *lol*

Cisco, stock options $47.000, buy/sell. Any accountancy student could've traced that!...

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the funny thing is 2003-10-13
Anonymous

No doubt! When I first heard about this case, I thought it'd be good for one of those "stupid criminal" shows. I really laughed when I read this account saying that the government was bragging about catching him. It's not like banks and brokerages keep records or anything... :)...

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Teen charged in cyber stock scam 2003-10-10
Anonymous

It would take anyone with half a clue about 30 minutes to figure it all out.

Obviousley this kid was an eeejit!

...

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Teen charged in cyber stock scam 2003-10-10
Anonymous

With a mind like that, I see a future for him in government or perhaps corporate accounting.

...

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Teen charged in cyber stock scam 2003-10-10
Anonymous

DO DREXEL UNIVERSITY!!! Thusfar, by my count, they've had more students commit federal crimes related to computers in the past 3 years than any other school. Well, the most that have been caught and written about....

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Teen charged in cyber stock scam 2003-10-10
Anonymous

hmm a 19 year old "hacker" that acualy took time to do his own mucking about instead of just defacing websites. This guy seems a little smarter than your average "script kiddie". Im somewhat impressed. But, i do agree with the earlier statement about Big Brother going after kids like this and not...

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Teen charged in cyber stock scam 2003-10-10
Anonymous

Why would you want stocks in Cisco anyways...

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Teen charged in cyber stock scam 2003-10-11
Anonymous Poster (4 replies)

How do they know that this young guy wasn't actually a victim of a trojan himself, and someone is sitting back having done the scam and found a good patsy!...

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Teen charged in cyber stock scam 2003-10-11
Anonymous

A patsy you say! Plot thickens

lol

I have to wonder though. If the Feds are so good at anti-cyber terrorism, how are they going to fair when Internet 2 goes mainstream? It's a whole new set of rules there! And everyday people like ourselves immediately have the upper hand, because we are the o...

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How do they know? 2003-10-12
Stress Junkie

They know it was him because he owned the options and he benefitted. Duh!...

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Teen charged in cyber stock scam 2003-10-13
Anonymous

Possibly because the purloined account was used to purchase his worthless options? Could be a good bit of evidence there....

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Teen charged in cyber stock scam 2003-10-13
Anonymous

Because the kid isn't clever enough to think up a story that good.

"Saddam Hussein .. he made me do it!"...

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Teen charged in cyber stock scam 2003-10-11
apex_predator

Guess they couldn't really say

"Despite the use of complex anonymizer programs and other cloaking devices, our staff was able to unravel this conduct quickly...using means completely unrelated to any anonymizer programs or cloaking devices."

That just ain't good for funding boys and girls. ...

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Teen charged in cyber stock scam 2003-10-13
Anonymous

Question??? this was the result of the kid trying to cover shares that lost, what happen to kids that shares do no not go down??? are there any tools to find them,

of course off shore account is a must...

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Teen charged in cyber stock scam 2003-10-13
Anonymous

What all of you have failed to realize is that just having buy/sell 47,000 in Cisco is *just circumstantial* evidence. I am sure the authorities involved used that as a starting point. It *had* to take some technical savvy to *prove* it was this kid. Someone(s) with some know how had to tear apar...

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