Indian hacker Jaisankar Marimuthu has pleaded guilty to one count of conspiracy to commit wire fraud, securities fraud, computer fraud and aggravated identity theft in an attempt to hack U.S. online brokerage accounts.

"He had hoped to use unauthorized access to online brokerages to manipulate stock prices, according to prosecutors," according to InfoSecurity. "At least 95 customers across nine brokerage firms were affected."

"Marimuthu used hacked accounts to make large, unauthorized purchases of securities on behalf of unwitting customers," the article states. "The bogus trades would be used in a classic 'pump-and-dump' scheme, inflating the prices of stocks that Marimuthu had already purchased."

Click here to read the InfoSecurity article.