In a landmark judgment, a federal jury in the US has indicted three Indians - two from Chennai and one settled in Malaysia - for hacking online accounts of brokerage firms and siphoning off millions of dollars.

According to a jury press note, the trio used to make money by resorting to, what the jury described as, "hack, pump and dump" scheme of breaking into the accounts of online brokers.

They have been found guilty for conspiracy, fraud and aggravated identity theft stemming from a high-tech, international fraud scheme designed to hijack online brokerage accounts for profit.

The 23-count indictment charges Jaisankar Marimuthu (32), a resident of Chennai, and Chockalingam Ramanathan (33) of Chennai with one count of conspiracy, eight counts of computer fraud, six counts of wire fraud, two counts of securities fraud, and six counts of aggravated identity theft as part of this "hack, pump and dump" scheme.

The indictment also charges Thirugnanam Ramanathan (34), a native of India and resident of Malaysia, with one count of conspiracy, two counts of computer fraud, and two counts of aggravated identity theft.

This is the first time that anyone has been arrested overseas for an online brokerage intrusion fraud in the US.