Hong Kong Man Pleads Guilty In Spam Scam

Hong Kong Man Pleads Guilty In Spam Scam

A Hong Kong resident has pleaded guilty in a U.S. federal court for his part in a scam where tens of millions of spam emails were sent, artificially pumping up the stock price of Chinese companies between 2004 and 2006.
According to media reports in the U.S., How Wai John Hui, a resident of Hong Kong and Vancouver, was the CEO of U.S.-based China World Trade, one of the companies whose stock was inflated as a result of the scam.



"While there's been a significant drop in pump-and-dump stock manipulation spam since this alleged conspiracy, it's still encouraging to see authorities pursue cases like this, and bring the perpetrators to justice," said Graham Cluley, senior technology consultant at Sophos.



As in many cases of cybercrime that we encounter today, Hui wasn't working alone, said Sophos. In fact, he is believed to have been part of a gang which included the notorious Alan Ralsky  who was previously accused of being the world's biggest spammer, Sophos added.