Brooklyn prosecutors, in addition to Mr. Korchevsky, also charged Vladislav Khalupsky, 45; Leonid Momotok, 47; and Alexander Garkusha 47, all United States residents, who had personal brokerage accounts at some of the biggest investment banks in the United States, including JPMorgan Chase, Merrill Lynch and Jefferies. Two of the four men were once registered with the S.E.C., including Mr. Korchevsky. Authorities said in court papers the independent traders and overseas hackers "shared login and password information for brokerage accounts they controlled" making it easier for them to trade and transfer payments.
Kelly Currie, the United States attorney for Brooklyn, called the network of hackers and traders an "unholy alliance."
The authorities said tens of millions of illegal trading profits had been recovered from bank accounts maintained by the traders and hackers. The authorities also seized some homes, a boat and even an apartment complex that was bought with some of the proceeds.
The charges against the men demonstrate the various ways in which computer hackers can profit richly from illegally obtained information.
"When we think of hackers who try to profit from their crimes, we usually think about people who steal bank account information or sell sensitive personally identifying information," said Matthew L. Schwartz, a lawyer at Boies, Schiller & Flexner and a former prosecutor in Manhattan who worked on cases involving digital crime.
"The reality, as exemplified by today's charges, is that hackers can obtain access to all sorts of valuable information and can and will profit off of it in every way imaginable," he added.
Last month, prosecutors in Manhattan filed charges against five people, some of whom are suspected of having played a role in a breach at JPMorgan Chase that resulted in the theft of customer data for 83 million accounts. The authorities said they suspect that group wanted to use the tens of millions of email addresses stolen in the hacking to further stock manipulation schemes involving spam emails to pump up the price of otherwise worthless penny stocks.
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In fact, the scheme announced on Tuesday was similar to one in 2005, when the S.E.C. charged a group of traders in Estonia with hacking into Business Wire to obtain news releases to inform their trades. Hacking or stealing corporate news releases is a strategy traders looking for an illegal edge have used over the years.
But the group uncovered on Tuesday went further than the Estonian hackers, and its scheme was much broader than anything previously uncovered by the authorities. It may be the first of many cases in which hackers use purloined corporate data to commit securities fraud.
Last year the computer consulting firm FireEye said that it had uncovered a sophisticated group of hackers, called Fin4, that was aiming at the email networks of large pharmaceutical and financial companies to gain market-sensitive information about deals. The revelation was outlined in a report that FireEye, based in California, shared with the S.E.C. and with the Federal Bureau of Investigation.
A few months ago, the S.E.C. asked a handful of companies to provide information about data taken in breaches of their computer networks. The authorities took similar steps recently with several large public relations firms, said another person briefed on the matter who spoke on the condition of anonymity.
Jen Weedon, a threat intelligence manager with FireEye who worked on the Fin4 report, said she saw some similarities and differences between the way the group she observed operated and the one busted up by federal authorities.
"There's targeting overlap in that these actors seemed to deliberately pursue market-moving information, like FIN4, to benefit financially on the stock trade. Unlike FIN4 it seems this group had a narrower scope in choosing to get their data from a consolidated place," Ms. Weedon said by email.
But the end goal is the same, she added, noting the hackers were infiltrating networks to gain private information to gain an edge in the markets.