Feds: Greek Dark Web Operator Sought to Sell Inside Information

NEW YORK — Federal authorities say they are seeking a fugitive who tried to create a marketplace in the dark spaces of the internet for those with an appetite for inside information on stocks.

Manhattan U.S. Attorney Audrey Strauss said Apostolos Trovias, 30, of Athens, Greece, identified himself online as "The Bull" as he solicited and offered to sell inside information.

Federal authorities unsealed a criminal indictment against him on Friday, charging him with securities fraud and money laundering.

They said he's sold inside information on stocks since December 2016, when he registered a "Dark Web" internet site known as AlphaBay Market where he charged individuals $99.95 weekly or $299 monthly subscriptions to get access to inside information on stocks.

The "Dark Web" is an area of the internet where hidden identities flourish, allowing individuals to set up marketplaces for various illegal products and services such as illegal drugs, stolen identities and computer hacking.

The site only operated for about six months but Trovias then began using encrypted messaging and email services to communicate with customers, authorities said. Online, he used an avatar, labeling himself as "The Bull," they said.

Among information Trovias sold was a pre-release earnings report misappropriated from a publicly traded company, they said.

Strauss said in a release that Trovias tried to hide his insider trading scheme behind anonymizing software, screennames, and bitcoin payments.

William F. Sweeney Jr., head of New York's FBI office, said Trovias created a business model so he could sell steal and sell inside information while hiding his footprints.

"The FBI operates within the Dark Web too, and as Trovias learned today, we don't stop enforcing the law just because you commit federal crimes from behind a router with your keyboard," he said.

The Securities and Exchange Commission brought civil charges against Trovias on Friday in Manhattan, saying Trovias told an Internal Revenue Service agent posing online as a customer that some information he obtained was "sensitive and more importantly illegal to use or share."

The SEC said some of the over 100 customers Trovias signed up for subscriptions were undercover agents of the IRS and FBI.

The SEC said Trovias agreed online last August to meet with two FBI agents posing as customers. When the FBI agents said they were based in the United States, Trovias said he was too, the SEC said.


ATHENS - The Greek Parliament plenary approved funding for print media on Tuesday that will help them overcome financial problems resulting from the energy crisis.

Top Stories

General News

FALMOUTH, MA – The police in Falmouth have identified the victim in an accident involving a car plunging into the ocean on February 20, NBC10 Boston reported.

General News

NEW YORK – Meropi Kyriacou, the new Principal of The Cathedral School in Manhattan, was honored as The National Herald’s Educator of the Year.

General News

PHILADELPHIA – The Federation of Hellenic Societies of Philadelphia and Greater Delaware Valley announced that the Evzones, the Presidential Guard of Greece will be participating in the Philadelphia Greek Independence Day Parade on March 20.


Mission…to Alonnisos, a TNH Documentary

O oceanic you sing and sail White on your body and yellow on your chimeneas For you're tired of the filthy waters of the harbors You who loved the distant Sporades You who lifted the tallest flags You who sail clear through the most dangerous caves Hail to you who let yourself be charmed by the sirens Hail to you for never having been afraid of the Symplegades (Andreas Empeirikos)   What traveler has not been fascinated by the Greek islands, drawn by the Sirens’ song of a traveler’s dreams? TNH and our video show ‘Mission’ marked the change of the season by transporting viewers into the heart of summer.

Enter your email address to subscribe

Provide your email address to subscribe. For e.g. abc@xyz.com

You may unsubscribe at any time using the link in our newsletter.