SpaceX engineer pleads guilty to selling dark web insider trading advice

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SpaceX engineer pleads guilty to selling dark web insider trading advice


FILE PHOTO: SpaceX Falcon 9 rocket and Crew Dragon spacecraft carrying NASA astronauts Douglas Hurley and Robert Behnken take off during NASA’s SpaceX Demo-2 mission to the International Space Station from NASA’s Kennedy Space Center in Cape Canaveral, Florida, USA on May 30, 2020. REUTERS / Joe Skipper

WASHINGTON (Reuters) – An engineer working for Elon Musk’s SpaceX pleaded guilty on Thursday to conspiring to commit securities fraud by selling insider advice on the “dark web,” the ministry said on Thursday. US Justice and the Securities and Exchange Commission (SEC).

The case was the first in which the SEC has brought enforcement action alleging dark web securities violations, he said.

James Roland Jones of Redondo Beach, Calif., Faces a maximum sentence of five years in federal prison, the Justice Department has said. A sentencing date has not yet been set.

According to the agencies, from 2016 to at least 2017, Jones conspired with another anonymous person to access various Dark Web markets, including a website claiming to be an insider trading forum, in search of material information. and not public to use on own account. securities trading.

The dark web allows users to access the internet anonymously and is often used to host websites that support illegal activity. Jones could not be reached for comment.

Jones also devised a plan to sell what he falsely claimed to be insider advice on the dark web, the agencies said. Several users paying with bitcoin bought these tips and eventually traded based on the information Jones provided, they said.

Reporting by Michelle Price; edited by Richard Pullin

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