Wealthy Russian undertook $90 million hack-and-trade scheme, U.S. says at trial

Vladislav Klyushin, an owner of an information technology company with ties to the Russian government, is seen in an undated photograph attached to a U.S. Department of Justice filing. U.S. Dept. of Justice/Handout via REUTERS

BOSTON (Reuters) -A wealthy Russian businessman with ties to the Kremlin made tens of millions of dollars trading on secret financial information obtained by hackers about multiple companies before it was public, a U.S. prosecutor said Monday at the start of his trial.

Vladislav Klyushin, 42, and his associates made nearly $90 million trading stocks based on yet-to-be-announced information about hundreds of publicly-traded companies stolen by hackers, Assistant U.S. Attorney Stephen Frank told a federal jury in Boston.