Email
Password
Remember meForgot password?
    Log in with Twitter

Three men indicted for $100 million Internet fraud

By Leo Reyes     May 27, 2010 in Internet
For tricking Internet users in at least 60 countries into buying their bogus software products, three men from a Ukraine-based company have been indicted for Internet and computer fraud.
According to Inquirer.net, the three men (two Americans and a Swedish citizen) made computer users believe that their units were infected and in the process collected over a $100 million by selling them fake anti-virus software.
Bjorn Daniel Sundin, 31, a Swedish citizen believed to be in Sweden, and Shaileshkumar Jain, 40, a US citizen believed to be living in Ukraine, were each charged with 24 counts of wire fraud and one count each of conspiracy to commit computer fraud and computer fraud.
James Reno, 26, of Amelia, Ohio, was charged with 12 counts of wire fraud and one count each of conspiracy to commit computer fraud and computer fraud and is expected to appear before a US District Court in Chicago.
"These defendants allegedly preyed on innocent computer users, exploiting their fraudulently induced fears for personal gain," said FBI special agent Robert Grant.
The Ukraine-based company allegedly used fake advertisements on legitimate websites to make viewers believe that their units were infected with computer virus.
The viewers are then induced to buy their software known as 'Eurosafe' and 'Drive Cleaner' to fix the problem. Buyers were asked to pay via credit cards to their controlled bank accounts.
Each count of wire fraud carries a maximum penalty of 20 years in prison, according to the report.
More about Malware, Computer virus, Software, Internet fraud
More news from