Moorefield man arrested by FBI, released on $100,000 unsecured bail

The FBI says its Internet Crime Complaint Center reports victims of internet scams in Tennessee lost more than $28 million last year./ Source: MGN
The FBI says its Internet Crime Complaint Center reports victims of internet scams in Tennessee lost more than $28 million last year./ Source: MGN(WVLT)
Published: May. 24, 2019 at 9:47 PM CDT
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Timothy Young, 49, of rural Moorefield was arrested by FBI agents Thursday, May 16, 2019 for the selling of his employer's confidential information. He was interviewed and initially went in front of a US Magistrate in Federal Court in Douglas County, Omaha, Nebraska.

His case was then transferred to a Newark, New Jersey Federal Court in Essex County where he had his first appearance Thursday, May 23, 2019. The Magistrate allowed him to waive his right to a preliminary hearing, and released him on $100,000 unsecured bail, which means no money changed hands. The conditions of the bail terms allow him to return to Nebraska, but he will be tried in New Jersey.

U.S. Attorney Craig Carpenito says special agents of the FBI Cyber Task Force, task force officers from the New Jersey State Police, Jersey City Police Department and Federal Protective Service, as well as the FBI in Omaha all contributed to the findings which led FBI agents to arrest Young on Thursday, May 16th.

Young is accused of using an alias, and placing an ad online. He advertised the sale of non-public information which he had access to through his employment with a data analytics and risk assessment company. His LinkedIn page lists Verisk Analytics as his employer, although the company's name remains anonymous in court documents.

According to the U.S. Attorney's Office in Newark, New Jersey, the company serves customers worldwide, including entities providing insurance and financial services as well as government entities.

U.S. Attorney Carpenito reports that the company maintains a network that houses, among other things, significant amounts of personally identifiable information.

According the court documents, Young provided to an individual he met online non-public information from the company's system, including names, logon names, passwords, email addresses, and telephone numbers from some of the company's clients. Young expected to be paid for the information, according to documents with the United States Attorney's office in the District of New Jersey. Special Agent with the FBI Schiller Salomon reported in court documents that Young was asking $2.5 million in cryptocurrency for the information. After communicating with Young undercover from March until his arrest in May, authorities paid .5 bitcoin for a database containing thousands of the records of the company's customers.

After confirming accuracy with Young's employer concerning shared information, login times, and password usage, the employer and Young's internet service provider's records further demonstrated that the access occurred from an IP address assigned to Young's residence in Moorefield, Nebraska.

Special Agent Salomon further includes in his written statement during a law enforcement interview "on or about" May 16, 2019, Young revealed his actions concerning the allegations against him.

The government is being represented by Assistant U.S. Attorney Andrew Kogan of the U.S. Attorney's Office Cyber Crimes Unit in Newark. Young is being represented by David Holam, Designation Public Defender.

There is no trial date set for Young at this time. If found guilty, Young faces a maximum of 20 years in prison, and up to $250,000 in fines.

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