Computer Crime Research Center


Hong Kong businessman guilty of spam to influence stocks

Date: January 09, 2009

A Hong Kong businessman has recently pleaded guilty for his part in dispatching tens of millions of spam messages to pump up the prices of Chinese stocks between 2004 and 2006.

John Hui How Wai, a resident of Hong Kong and Vancouver, was the chief executive officer of China World Trade, one of the companies whose stock was inflated as a result of the scam. As part of his plea agreement with prosecutors, the 50-year-old businessman could face a sentence of between 63 and 78 months in jail.

As in many cases of cyber crime that the world encounters today, Hui was not working alone, said experts at Sophos, a UK-based information technology security and control firm,.
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