U.S. federal prosecutors are preparing to unveil charges as early as Tuesday against a group of traders and hackers that allegedly plotted to get hold of press releases about mergers and acquisitions and trade on them before the deals were made public, the Wall Street Journal reported.
The alleged scheme, which involved more than a half dozen people, is believed to have resulted in tens of millions of dollars in illicit profits, according to people familiar with the matter.
The case could be the largest of its kind and exemplifies the increasingly bridged lines between cybercrime and traditional financial fraud, the WSJ said.
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