Vincent Cannady, an expert who worked as a consultant in the field of cybersecurity, was taken into custody on suspicion of attempting to extort large sums of money, which could reach up to $1.5 million, from a publicly traded IT company.
He explicitly threatened to release confidential company information publicly unless his demands were met.
“As alleged, Vincent Canady used illegal and excessive threats to obtain payments of more than $1 million from a publicly traded company after the engagement broke off,” said U.S. Attorney Damien Williams.
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When someone entrusted with confidential information steals that information while out and extorts money by threatening to release that information, my office will hold them accountable for their actions. ”
Cannady was assigned to assess and remediate potential vulnerabilities in the company's information systems.
This position gave him access to sensitive data, which he later used to leverage extortion demands after his contract with the company ended.
demands and threats
In an attempt to seek justice, he pressed the company to address the discrimination claims and the emotional distress he had suffered. It even threatened to release documents if the company did not take action.
“[a]We all know those documents are at risk. [the company’s] It enhances reputation and shakes investor confidence,” CANNADY added.
Cannady specifically asked for a 10-year negotiable certificate of deposit worth $1.5 million and a gag order prohibiting him from sharing any information about the company.
Cannady has been charged with Hobbs Act racketeering, which could carry a maximum sentence of 20 years in prison. This accusation is an accusation. He is presumed innocent until proven guilty.
The U.S. Attorney's Office is prosecuting this case in the Southern District of New York.
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