(CNBC) — A Ukrainian hacker pleaded guilty Monday to his role in an international scheme that used stolen unpublished news releases to make $30 million in profits.
Vadym Iermolovych entered the plea in Newark, New Jersey, to a complaint charging him with aggravated identity theft and conspiracy to commit wire and computer hacking. The 28-year-old Kiev man faces up to 20 years in prison when he's sentenced Aug. 22.
Iermolovych was one of several people arrested in August in the U.S. and Ukraine. The Securities and Exchange Commission also charged them and 23 other individuals and companies in the U.S. and Europe.
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