Feeds

PairGain bogus news man arrested

Fake bulletin could put him inside for ten years

  • alert
  • submit to reddit

The essential guide to IT transformation

The Feds have arrested a man they believe masterminded a plot to drive up the stock price of California-based PairGain Technology. Twenty five-year-old Gary Dale Hoke was arrested at his home in Raleigh, North Carolina charged with creating a bogus Bloomberg news item alleging that PairGain had agreed to be acquired by Israeli company, ECI Telecom. He has been released on bail although no date has been set as to when he is due to face charges. The false news item -- which was posted on a Yahoo! bulletin board -- created a run on the stock price before it was rumbled by financial police in the US. If found guilty Hoke -- who is an employee of PairGain -- could be gaoled for up to ten years and face a fine of $1 million. Earlier this week, Bloomberg filed a lawsuit against unnamed persons and for unspecified damages over the hoax. ®

Build a business case: developing custom apps

More from The Register

next story
Assange™: Hey world, I'M STILL HERE, ignore that Snowden guy
Press conference: ME ME ME ME ME ME ME (cont'd pg 94)
Premier League wants to PURGE ALL FOOTIE GIFs from social media
Not paying Murdoch? You're gonna get a right LEGALLING - thanks to automated software
Online tat bazaar eBay coughs to YET ANOTHER outage
Web-based flea market struck dumb by size and scale of fail
Amazon takes swipe at PayPal, Square with card reader for mobes
Etailer plans to undercut rivals with low transaction fee offer
Caught red-handed: UK cops, PCSOs, specials behaving badly… on social media
No Mr Fuzz, don't ask a crime victim to be your pal on Facebook
US regulators OK sale of IBM's x86 server biz to Lenovo
Now all that remains is for gov't offices to ban the boxes
XBOX One will learn to play media from USB and DLNA sources
Hang on? Aren't those file formats you hardly ever see outside torrents?
Class war! Wikipedia's workers revolt again
Bourgeois paper-shufflers have 'suspended democracy', sniff unpaid proles
prev story

Whitepapers

Endpoint data privacy in the cloud is easier than you think
Innovations in encryption and storage resolve issues of data privacy and key requirements for companies to look for in a solution.
Implementing global e-invoicing with guaranteed legal certainty
Explaining the role local tax compliance plays in successful supply chain management and e-business and how leading global brands are addressing this.
Top 8 considerations to enable and simplify mobility
In this whitepaper learn how to successfully add mobile capabilities simply and cost effectively.
Solving today's distributed Big Data backup challenges
Enable IT efficiency and allow a firm to access and reuse corporate information for competitive advantage, ultimately changing business outcomes.
Reg Reader Research: SaaS based Email and Office Productivity Tools
Read this Reg reader report which provides advice and guidance for SMBs towards the use of SaaS based email and Office productivity tools.