According to US law enforcement agencies, Babatunde Osimane and his accomplice stole the identities of over 100 employees of Swedish company Telefonaktiebolaget LM Ericsson and drained around $1.9 million from their stock and credit card accounts.
Osimane pleaded guilty to two counts of mail fraud and one count of wire fraud, and was ordered to pay $1.1 million in restitution. He admitted accessing accounts managed by ETrade Group using the social security numbers provided by ex-Ericsson employee Jeanette Franklin. Franklin was found guilty of 16 counts of mail and wire fraud and will face a maximum 80 year prison term when she is sentenced on 9th July.
Last week, a Colorado graduate student was indicted over an alleged attempt to extort ransom payments from e-commerce company Audible. According to reports, the student demanded a new Volvo estate in exchange for remaining silent about security flaws he discovered in a web site operated by Audible.
A new EU web site that addresses the issue of illegal and harmful content on the internet has itself been hacked. The message placed on the EU web site, Safernet.org, reads: “This is our world! We are god and we make the rulezzz Happy finding us! The Netherlands is tha place!”