Feeds

Feds seize $15m from scareware monger's Swiss account

Fugitive accused of bilking millions

High performance access to file storage

Federal authorities have seized $15m from a fugitive accused of bilking millions of people in scareware and counterfeit antivirus software scams.

Mugshot of Jain provided by ICE

Mugshot of Shaileshkumar Jain

Members of the Department of Homeland Security's Immigration and Customers Enforcement division confiscated the $14.8m windfall from a Swiss bank account belonging to Shaileshkumar “Sam” Jain.

He was first indicted in in March 2008 for allegedly selling millions of dollars worth of bogus Symantec security software.

Authorities charged him with wire fraud, mail fraud, and trafficking of counterfeit goods for the scam, which they said used spamming and web-advertising campaigns.

Nine months later, officials with the Federal Trade Commission shut down a major operation that Jain and associates used to dupe more than one million computer users into buying bogus malware protection.

The scareware operation bought ads on mainstream websites that falsely claimed viewers' machines were riddled with malware infections or contained illegal pornography.

Jain had originally surrendered to ICE agents, but was declared a fugitive in January 2009 when he failed to appear for a scheduled appearance in federal court in San Jose, California.

Last year, the US Attorney's office in Chicago accused Jain of selling more than $100m worth of rogue antivirus software.

The programs carried titles such as WinFixer, WinAntivirus, DriveCleaner, and ErrorSafe and sold for $30 to $70 for each copy. The US citizen and former resident of Mountain View, California, was believed to have fled to Ukraine, authorities said at the time.

The $14.8m was seized from an investment account in Switzerland, ICE officials said in a release issued on Thursday. ICE officials are continuing their efforts to locate him so he can be returned to the United States. ®

High performance access to file storage

More from The Register

next story
Obama allows NSA to exploit 0-days: report
If the spooks say they need it, they get it
Parent gabfest Mumsnet hit by SSL bug: My heart bleeds, grins hacker
Natter-board tells middle-class Britain to purée its passwords
Web data BLEEDOUT: Users to feel the pain as Heartbleed bug revealed
Vendors and ISPs have work to do updating firmware - if it's possible to fix this
OpenSSL Heartbleed: Bloody nose for open-source bleeding hearts
Bloke behind the cockup says not enough people are helping crucial crypto project
One year on: diplomatic fail as Chinese APT gangs get back to work
Mandiant says past 12 months shows Beijing won't call off its hackers
Call of Duty 'fragged using OpenSSL's Heartbleed exploit'
So it begins ... or maybe not, says one analyst
Experian subsidiary faces MEGA-PROBE for 'selling consumer data to fraudster'
US attorneys general roll up sleeves, snap on gloves
NSA denies it knew about and USED Heartbleed encryption flaw for TWO YEARS
Agency forgets it exists to protect communications, not just spy on them
prev story

Whitepapers

Mainstay ROI - Does application security pay?
In this whitepaper learn how you and your enterprise might benefit from better software security.
Five 3D headsets to be won!
We were so impressed by the Durovis Dive headset we’ve asked the company to give some away to Reg readers.
3 Big data security analytics techniques
Applying these Big Data security analytics techniques can help you make your business safer by detecting attacks early, before significant damage is done.
The benefits of software based PBX
Why you should break free from your proprietary PBX and how to leverage your existing server hardware.
Mobile application security study
Download this report to see the alarming realities regarding the sheer number of applications vulnerable to attack, as well as the most common and easily addressable vulnerability errors.