Friday, December 15

"Logic bomb" backfires on hacker

Hacker duped by his own Logic bomb:

A former UBS PaineWebber employee was sentenced to eight years in prison on Wednesday for planting a computer "logic bomb" on company networks and betting its stock would go down.

The investment scheme backfired when UBS stock remained stable after the computer attack and Roger Duronio lost more than $23,000.

A federal judge in New Jersey sentenced Duronio, 64, to 97 months in prison and ordered him to make $3.1 million in restitution to his former employer, the U.S. attorney's office said in a statement.

Duronio was convicted on July 19 of one count of securities fraud and one count of computer fraud in the 2002 case.

Read the complete article here.

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