SEC v. Dubovoy, et al. (hack to trade, 2015)

Settled

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In September 2015 the SEC reported that Ukraine-based Jaspen Capital Partners Limited and its principal Andriy Supranonok, two of 34 defendants in the Dubovoy hacked-news-release case, had agreed to settle, subject to court approval, by consenting to injunctions and $30 million in disgorgement. The SEC alleged they made about $25 million trading contracts for difference on press releases stolen from newswires.

The record

What was ordered

Civil penalty

—

Disgorgement

$30m

Prejudgment interest

—

Total relief

$30m

Alleged gain

$25m

A dash means the release did not state a figure we could extract, not that the figure is zero. Penalty and disgorgement are stored separately so aggregates across the library do not double-count the same dollars.

What is alleged to have happened

The Securities and Exchange Commission announced this partial settlement on September 14, 2015 as litigation release LR-23345, in SEC v. Dubovoy, et al., civil action 2:15-cv-06076 in the District of New Jersey. The case was filed on August 10, 2015 and by August 23 had 34 defendants; this release concerns only two of them, Jaspen Capital Partners Limited and its principal Andriy Supranonok, whom it names as the settling parties.

The SEC alleged that Jaspen and Supranonok made about $25 million buying and selling contracts for difference on the basis of press releases hacked from two newswire services between 2010 and 2014, plus further profits from a third newswire in 2015. Without admitting or denying the allegations, they consented to injunctions against Section 10(b), Rule 10b-5 and Section 17(a) and to disgorgement of $30 million. The release says the settlement offers were subject to court approval and that litigation continued against the other 32 defendants.

The $30 million is the settling pair's figure, not a total for the case. Other records in this library cover later developments in the same action.

For the regulator's own account of the facts, read the primary document linked above.

What technique is this, and how does it work?

This action is tagged with one technique in our taxonomy. The tagging is ours: regulators charge statutory provisions, not technique names, so the mapping is an editorial judgement described in our editorial policy.

• Hack to trade — see how it works, what statute it engages, and every other action tagged the same way.

Timeline

1. 2015-09-14 Litigation release published

Primary documents

Everything on this page derives from the documents below. Where our summary and the primary document disagree, the primary document is right.

• SEC litigation release

The linked release is a work of the United States government and is not subject to copyright. Our summary and narrative above are our own writing.

Related actions

Other actions in the library sharing at least one technique tag with this one.

Record added September 20, 2026. submit a correction.