Jury Convicts Two Men for Illegally Trading on Hacked Press Releases

A federal jury in Brooklyn, New York, convicted two men for their roles in an international scheme to make millions of dollars by illegally trading on corporate press releases that were stolen by computer hackers before they became public. Vitaly Korchevsky, a Pennsylvania pastor and former Morgan Stanley (MS.N) vice president, and co-defendant Vladislav Khalupsky were each found guilty on two securities fraud and three conspiracy counts, a spokesman for U.S. Attorney Richard Donoghue in Brooklyn said.