A trader in Pennsylvania made millions in a huge insider trading scandal

More than 30 defendants were today named in criminal and civil cases over alleged hacking and insider trading.

Only one appears to have a background on Wall Street - Vitaly Korchevsky.

The 49-year old Russian immigrant was arrested in Pennsylvania today in connection with a global cyber crime and insider trading ring that allegedly netted over $100 million.

Korchevsky made 600 trades using illegally obtained insider information, earning $17.5 million in the process, according to a complaint filed by the Securities and Exchange Commission.

The Russian completed university in Russia before moving to the United States to get his MBA at a private Christian institution, Regent University in 1995, according to Bloomberg's Keri Geiger.

He was working in the asset management division of Morgan Stanley in 1999, helping manage Invesco American Value funds, according to the Bloomberg report.

He went on to work at Victus Capital in New York until 2005, according to the Financial Industry Regulatory Authority, and then moved to Investment Counselors of Maryland.

Korchevsky then started his own hedge fund, NTS Capital Fund LP, in Glen Mills Pennsylvania in 2011, according to SEC filings. NTS was also named as a defendant in the SEC case and is alleged to have made $3.2 million in ill-gotten gains.

Korchevsky is alleged to be connected with Arkadiy Dubovoy, a 50-year old based in Georgia who made $11 million in ill-gotten gains and is the father of at least one of the other defendants, according to the SEC filing.

The two have established hedge funds together, and coordinated trading, the SEC filing alleged. Korchevsky also helped create offshore accounts for the Dubovoy Group.