Feeds

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

Fugitive accused of bilking millions

Next gen security for virtualised datacentres

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. ®

The essential guide to IT transformation

More from The Register

next story
Goog says patch⁵⁰ your Chrome
64-bit browser loads cat vids FIFTEEN PERCENT faster!
Chinese hackers spied on investigators of Flight MH370 - report
Classified data on flight's disappearance pinched
NIST to sysadmins: clean up your SSH mess
Too many keys, too badly managed
Attack flogged through shiny-clicky social media buttons
66,000 users popped by malicious Flash fudging add-on
New twist as rogue antivirus enters death throes
That's not the website you're looking for
ISIS terror fanatics invade Diaspora after Twitter blockade
Nothing we can do to stop them, says decentralized network
prev story

Whitepapers

A new approach to endpoint data protection
What is the best way to ensure comprehensive visibility, management, and control of information on both company-owned and employee-owned devices?
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.
Maximize storage efficiency across the enterprise
The HP StoreOnce backup solution offers highly flexible, centrally managed, and highly efficient data protection for any enterprise.
How modern custom applications can spur business growth
Learn how to create, deploy and manage custom applications without consuming or expanding the need for scarce, expensive IT resources.
Next gen security for virtualised datacentres
Legacy security solutions are inefficient due to the architectural differences between physical and virtual environments.