Boston: A Russian businessman was sentenced to 9 years in prison on Thursday for participating in a hack-and-trade scheme that stole billions of dollars from companies and individuals around the world.

Vladislav Klyushin, the owner of a Moscow-based information technology company called M-13, was convicted in February of conspiracy, wire fraud and securities fraud.

Prosecutors said that Klyushin and his co-conspirators hacked into computer systems and stole earnings reports, confidential financial information and other sensitive data. They then traded the stolen information on the stock market, making millions of dollars in profits.

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Klyushin was arrested in Switzerland in 2021 and extradited to the United States. He was the first Russian national to be convicted of insider trading in the United States.

In addition to the prison sentence, Klyushin was also ordered to pay $1.7 billion in restitution.

The hack-and-trade scheme was a major operation that targeted companies and individuals around the world. The stolen information was used to make millions of dollars in profits on the stock market.

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The conviction of Klyushin is a major victory for the US government in its efforts to combat cybercrime. It is also a warning to other criminals who may be thinking of engaging in similar activities.

The scheme was active for at least 5 years. The hackers targeted companies in a variety of industries, including technology, finance, and healthcare. The stolen information was used to make trades on the stock market, futures market, and options market.

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The hackers made millions of dollars in profits from the scheme. The conviction of Klyushin is a major victory for the US government in its efforts to combat cybercrime. It is also a warning to other criminals who may be thinking of engaging in similar activities.