The Securities and Exchange Commission agreed to a settlement with seven of the 32 defendants charged in August 2015 with allegedly trading on illicitly hacked news releases. According to the SEC, Ivan Turchynov and Oleksandr Ieremenko, both from the Ukraine, masterminded the scheme by hacking into the newswire companies’ servers from 2010 through 2015 to steal press releases regarding publicly traded companies before they were made public. Nine of the defendants in the SEC action were also criminally indicted. Subject to court approval, the seven defendants will pay almost US $18 million to resolve the SEC charges against them. (Click here for details regarding the SEC complaint and criminal indictments in the article, “Hackers and Traders Charged by SEC and Department of Justice in International Securities Fraud Scheme” in the August 16, 2015 edition of Bridging the Week.)