Hong Kong businessman pleads guilty in stock spam case

Graham Cluley

According to media reports, a businessman from Hong Kong has pleaded guilty in a Detroit court for his part in a scam where tens of millions of spam messages were sent, pumping up the stock price of Chinese companies.

How Wai John Hui, a resident of Hong Kong and Vancouver, Canada, was the CEO of China World Trade, one of the companies whose stock was artificially 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.

However, like many cases of cybercrime that we encounter today, Hui was not working alone. He is believed to have been part of a gang which included the notorious Alan Ralsky.

In the past Ralsky has claimed…

Read more in my article on the Naked Security website.

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Graham Cluley is a veteran of the anti-virus industry having worked for a number of security companies since the early 1990s when he wrote the first ever version of Dr Solomon's Anti-Virus Toolkit for Windows. Now an independent security analyst, he regularly makes media appearances and is an international public speaker on the topic of computer security, hackers, and online privacy. Follow him on Twitter at @gcluley, or drop him an email.