A man who ran a sophisticated computer hacking network which stole at least £2 million from the bank accounts of UK businesses has been jailed for nine years, today Thursday, 30 November.
Vugar Mollachiev, 37 (07.09.80) of Berkeley Gardens, N21 had previously pleaded guilty to conspiracy to defraud and money laundering. Today at Southwark Crown Court he was sentenced to nine years’ imprisonment for each indictment, to run concurrently.
Evidence from a previous cyber crime investigation identified Mollachiev as being heavily involved in cyber criminality and online fraud. Mollachiev and his associates used their technical knowledge to infect computers in businesses across the UK and Europe, enabling them to defraud businesses and UK banks out of over £2 million.
The funds were then used to purchase high-value goods or transferred via ‘mule’ accounts and ‘cashed out’ via ATMs, before being transferred back to Russia from where they could not be recovered.
Mollachiev was arrested by officers from the Met’s Falcon Cyber Crime Unit on 17 March on suspicion of conspiracy to defraud UK clearing banks of a sum in excess of £2 million and charged the following day. A number of computers were seized and subjected to forensic analysis, further highlighting the high level of Mollachiev’s involvement.
Detective Inspector Louise Shea from the Met’s Cyber Crime Unit, said:
“I am very pleased with today’s sentence which reflects just how seriously the courts take cyber crime and online fraud. The Met’s Cyber Crime Unit is working very hard to go after the perpetrators of cyber crime, which has the ability to undermine public confidence in the banking system.”
+ Abdurakhman Bazaev was previously found not guilty of conspiracy to defraud by false representation and money laundering.