SAVE MONEY ON TRAVEL DEALS

Jaisankar Marimuthu, 35, of Chennai, India, pleaded guilty Friday to one count each of conspiracy to commit wire fraud, securities fraud, computer fraud and aggravated identity theft and aggravated identity theft before U.S. District Magistrate Judge F.A. Gossett III in Omaha, Neb., Justice Department officials said.

Prosecutors said Marimuthu was extradited for trial following his arrest in Hong Kong. He faces up to seven years in prison, a maximum fine of $500,000 and three years of supervised release following his prison term.

Marimuthu was accused of a 2006 scheme run from Thailand and India in which the prices of thinly-traded securities were fraudulently inflated by hacking into U.S. brokerage accounts to make big buys, then were dumped for large profits onto an unsuspecting general public.

DOJ officials said Marimuthu admitted the conspirators' own holdings of the securities would be sold at a profit. At least 95 customers and nine brokerage firms in the United States have been identified as victims.

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