Two Israeli men, Ziv Orenstein and Gery Shalon, accused of securities fraud and hacks into media outlets and nine financial institutions, including JPMorgan Chase, Fidelity Investments and E*Trade Financial Corp., will be extradited to the U.S.

An Israeli court has approved the extradition and the two will face trial following their arrest in July at the request of the U.S. Department of Justice. The two will face charges relating to identity theft, unlawful internet gambling and money laundering. Their crimes netted them hundreds of millions of dollars.

Between 2007 and 2015, prosecutors said the pair stole personally identifiable information of 100 million customers. With the aid of a third non-Israeli member, the group did a "pump and dump" scheme were they sent out promotional emails touting hot stocks and then sold off their stocks at an inflated price.

The group is believed to have carried out the hacks via an Egypt-based computer server which they rented under an alias.

U.S. Attorney Preet Bharara said in November 2015: "By any measure, the data breaches at these firms were breathtaking in scope and in size."

Source: SCMagazine