A Texas man was charged Monday by the U.S. Department of Justice with helping to inflate the prices of penny stock companies by promoting them with a spam-spewing botnet of hacked computers. A Texas man was charged Monday by the U.S. Department of Justice with helping to inflate the prices of penny stock companies by promoting them with a spam-spewing botnet of hacked computers.Christopher Rad, of Cedar Park, Texas, faces a maximum sentence of five years in prison and a US$250,000 fine on charges that he acted as a middleman between unscrupulous stock promoters and Russian hackers, who operated the botnet. Rad allegedly worked with another man, James Bragg, to make the companies’ stock-prices move in a scheme that ran between November 2007 and February 2009. In October 2010, Bragg pleaded guilty to his role in the scheme. No date has been set for his sentencing.Prosecutors say that the two men promoted penny stocks for now-defunct companies such as RSUV (Remote Surveillance Technologies) and VSHE ( VShield Software). They did this not only by using the botnet to spam would-be investors, but also by having their Russian hackers take over brokerage accounts and purchase the stocks they were pumping, so it would look like the companies had market momentum. A Russian hacker identified only as “B.T.” and another alleged botnet-provider called “D.S.” are also named in court filings. Neither has been arrested.Robert McMillan covers computer security and general technology breaking news for The IDG News Service. Follow Robert on Twitter at @bobmcmillan. Robert’s e-mail address is robert_mcmillan@idg.com Related content news Okta confirms recent hack affected all customers within the affected system Contrary to its earlier analysis, Okta has confirmed that all of its customer support system users are affected by the recent security incident. By Shweta Sharma Nov 30, 2023 3 mins Data Breach Cyberattacks Cybercrime news Top cybersecurity product news of the week New product and service announcements from Wiz, Palo Alto Networks, Sophos, SecureAuth, Kasada, Lacework, Cycode, and more. By CSO staff Nov 30, 2023 17 mins Generative AI Security feature How to maintain a solid cybersecurity posture during a natural disaster Fire, flood, eathquake, hurricane, tornado: natural disasters are becoming more prevalent and they’re a threat to cybersecurity that isn’t always on a company’s radar. Here are some ways to prepare for the worst. By James Careless Nov 30, 2023 8 mins Security Operations Center Data and Information Security Security Practices news analysis Attackers could abuse Google's SSO integration with Windows for lateral movement Compromised Windows systems can enable attackers to gain access to Google Workspace and Google Cloud by stealing access tokens and plaintext passwords. By Lucian Constantin Nov 30, 2023 8 mins Multi-factor Authentication Single Sign-on Remote Access Security Podcasts Videos Resources Events SUBSCRIBE TO OUR NEWSLETTER From our editors straight to your inbox Get started by entering your email address below. Please enter a valid email address Subscribe