He pled guilty to one charge of conspiracy to commit wire fraud, securities fraud, computer fraud and aggravated identity theft and was sentenced to two years in prison, fined $362,247 and given three years of supervised release.
At least 60 customers and nine brokerage firms in the United States have been identified as victims. According to information presented during the sentencing hearing, brokerage firms sustained more than $300,000 in losses during Thirugnanam Ramanathan’s participation in the scheme.
Two other men, Jaisankar Marimuthu, 33, and Chockalingham Ramanathan, 34, have been named as co-conspirators. Marimuthu is currently in prison in Hong Kong awaiting extradition while Ramanathan is still at large.
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iTnews State of Security Breakfast Sydney
iTnews Executive Retreat - Security Leaders Edition - VIC
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