Two found guilty in £229 million Sumitomo spyware fraud case

Two found guilty in £229 million Sumitomo spyware fraud case

A Soho sex shop owner and self-proclaimed knight of the realm have been found guilty for their role in a conspiracy to steal £229 million from Sumitomo Mitsui Bank in a hi-tech software scam.

"Lord" Hugh Rodley, 61, who bought his title, was convicted of conspiracy charges dating back to 2004. Soho sex shop owner David Nash, 47, from Durrington, West Sussex, was also convicted at Snaresbrook Crown Court.

The court heard how spyware was installed on computers at Sumitomo Mitsui bank with the help of an insider, who unlocked the doors at night to let the conspirators and their cohorts place keylogging software on user PCs.

The gang then gained access to user names and passwords relating to the holdings of major companies, including Toshiba International, Nomura Asset Management and Sumitomo Chemical UK.

They made several attempts to electronically transfer up to £12.5m at a time around the world, but were foiled by "field logging errors".

The security guard, Kevin O'Donoghue, and hackers, Jan Van Osselaer and Gilles Poelvoorde, both from Belgium, have already admitted their roles in the conspiracy.

Rodley, who lived in a Tudor mansion in Tewkesbury, Gloucestershire, was found guilty of conspiracy to defraud and conspiracy to transfer criminal property. Nash was cleared of the first charge but convicted of the second.

The court was adjourned to await sentencing.

A third defendant, Swedish national Inger Malmros, 58, was cleared of both counts.

Comments: (1)

Paul Penrose
Paul Penrose - Finextra - London 05 March, 2009, 16:11Be the first to give this comment the thumbs up 0 likes

Rodley will serve eight years at Her Majesty's pleasure for his part in the plot. Nash will do a three-year stint. Bank insider and security supervisor Kevin O'Donoghue was jailed for four years. A Belgian computer expert received three-and-a-half years, while a French national who recruited him was sent down for four years.