The Securities and Exchange Commission (SEC) announced charges against Robert B. Westbrook, a U.K. citizen, for allegedly hacking into the computer systems of five U.S. public companies.
The SEC claims that Westbrook used this unauthorized access to obtain material nonpublic information about the companies’ earnings, resulting in approximately $3.75 million in illicit profits.
Details of the Allegations
According to the SEC’s complaint, filed on September 27, 2024, in the U.S. District Court for the District of New Jersey, Westbrook’s hacking activities spanned from January 2019 to August 2020.
He reportedly gained access to the companies’ systems by resetting passwords of senior executives’ accounts. This breach allowed him to trade securities based on insider information before at least 14 public earnings announcements.
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The SEC has charged Westbrook with violating the antifraud provisions of the Securities Exchange Act of 1934. The…
