The Latest: Officials to detail charges in insider trading hacking scheme that netted $30M

Markets Associated Press

The latest on charges against Ukrainian hackers accused of working with American securities traders to hack into the computer systems of companies that publish news releases and trading on the information (all times local):

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11 a.m.

Officials plan to discuss charges against a group of Ukrainian hackers who they say worked with securities traders to make $30 million by breaking into the computer systems of companies that publish news releases about publicly traded companies and trading on the information before it was made public.

Federal prosecutors in New Jersey and New York City, the Department of Homeland Security secretary and the chairwoman of the Securities and Exchange Commission will appear at a news conference in Newark at 11:30 a.m. Tuesday.

Authorities say the group gained access to PR Newswire, Business Wire and Marketwired. Caterpillar Inc. and Align Technology were among the targets.

Five people named in an unsealed indictment include two people described as Ukrainian computer hackers and two securities traders from Alpharetta, Georgia.

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9:30 a.m.

Federal prosecutors say Ukrainian hackers worked with securities traders to make $30 million by breaking into the computer systems of companies that publish news releases about mergers and acquisitions.

According to an indictment unsealed Tuesday, the defendants gained access to news releases and traded on the information in them before they were made public.

Federal prosecutors in New Jersey and New York City, along with Homeland Security Secretary Jeh Johnson and Securities and Exchange Commission Chairwoman Mary Jo White, will discuss the case during a news conference Tuesday in Newark, New Jersey.

An indictment against five people was unsealed in Newark on Tuesday morning, and another was filed under seal in Brooklyn, New York.

The five include two people described as Ukrainian computer hackers and two securities traders from Alpharetta, Georgia.

Prosecutors allege the scheme started in February 2010.