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Home International Russian Gets 9 Years in Prison for Hacking, Insider Trading Scheme

Russian Gets 9 Years in Prison for Hacking, Insider Trading Scheme

Klyushin, 42, has been jailed in the U.S. since his extradition in 2021

by NWMNewsDesk
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A wealthy Russian businessman with ties to the Kremlin was sentenced Thursday to nine years in prison for his role in a nearly $100 million stock market cheating scheme that relied on secret earnings information stolen through the hacking of U.S. computer networks.

Vladislav Klyushin, who ran a Moscow-based information technology company that did work for the highest levels of the Russian government, was convicted in February of charges that include wire fraud and securities fraud after a two-week trial in federal court in Boston.

Authorities say he personally pocketed more than $33 million in the scheme, which involved breaking into computer systems to steal earnings-related filings for hundreds of companies — including Microsoft and Tesla — and then using that insider information to make lucrative trades.

Klyushin, 42, has been jailed in the U.S. since his extradition in 2021, and the more than two years he’s been detained will be credited to his prison term. He was arrested in Switzerland after arriving on a private jet and just before he and his party were about to board a helicopter to whisk them to a nearby ski resort. After he completes his sentence, he’s expected to be deported to Russia.

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