Kingston's MobileLite Wireless streams multimedia and charges mobile devices, too

Small, light, and versatile, Kingston's $70 MobileLite serves as a Wi-Fi multimedia streamer and as a reserve power source for your other mobile devices, such as your smartphone or tablet. The MobileLite has no storage of its own, but it provides a USB 2.0 port and an SDHC memory card slot so you can attach your own.

Using the MobileLite is easy: Turn it on, connect to the MobileLIte's Wi-Fi network, and use Kingston's Android or iOS app, or a DLNA client, to stream any media available on attached drives or SD cards. Kingston told me that the unit doesn't support DLNA, but it showed up as that kind of device in Windows Media Player and XBMC (open-source media player software). You may, of course, treat the MobileLite like any other network drive and access files that way, too.

The MobileLite will also connect to and pass through a Wi-Fi Internet connection. The unit continues to function when connected to your PC's USB port, although you can't access the attached storage directly via Windows Explorer unless you turn it off. Many devices turn off automatically when plugged into a USB port. I prefer having the choice.

The MobileLite will stream most common media formats (though not MKV in my hands-on testing), but you'll be limited by the platform you're using. An Android or iOS smartphone, for instance, won't have the large screen and speakers that a tablet running the same OS will, for instance; and streaming to a Windows PC or a Mac should be an even more enjoyable experience. Streaming 1080p video was smooth up to about 2 MBps, and battery life was just a tad shy of 4 hours. CrystalDiskMark rated a USB flash drive attached to the MobileLite at about 26 MBps in sequential reading (par for the course with USB 2.0).

Kingston's MobileLite is a great little Wi-Fi streamer for the price. It's far less expensive, if not quite as convenient, as competitors such as the Seagate Wireless Pro or the Corsair Voyager Air, which have internal hard drives. That it can also charge or run your cell phone or tablet in a pinch is gravy.

Jon L. Jacobi has worked with computers since you flipped switches and punched cards to program them. He studied music at Juilliard, and now he power-mods his car for kicks.
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U.S. Charges Latvian Hacker in $2 Million Stock Scam

A Latvian man has been charged by the U.S. financial regulator for an alleged online stock fraud that cost investors more than $2million (£1.3 million), and may have enabled him to profit over half a million pounds.

The SEC accuses Igor Nagaicevs, 34, of hacking the accounts of electronic broker-dealer firms and illicitly trading stocks through them as part of a "brazen stock price manipulation scheme."

The regulator alleges the Latvian hacked into the accounts and made unauthorized trades of securities 159 times between 2009 and August 2010, racking up total profits of $874,896 (£557,000) through an operation it says enabled him to "consistently derive quick trading profits" even when prices were only slightly manipulated.

As a result of his activity the prices of over a hundred NYSE and Nasdaq-listed stocks were affected and investors lost large amounts of money.

The SEC complaint, lodged in federal court in San Francisco, claims that Nagaicevs's scheme followed the same pattern on each occasion. This started by establishing a long or short position in a traded security through unregistered brokerage firms, who provided him with anonymous and direct access to the US securities market.

He then hacked into the online accounts of other broker-dealer companies, using their client investors' cash to make unauthorized trades of stocks and securities in order to manipulate market prices. This left him in a position to reap huge gains - in effect by buying back or selling the same stocks at artificial prices, thereby realizing a profit on transactions.

In one such incident it is alleged Nagaicevs generated profits of $14,000 in just 32 minutes by driving up the stock price of a NYSE-listed company before liquidating his position. The losses of all investors who fell prey to his scheme were reimbursed by the broker-dealer firms they held accounts with.

The SEC charge sheet did not however detail exactly how Nagaicevs gained access to the compromised accounts. FINRA, the self-regulatory body for broker-dealers in the U.S., has since warned investors to be viligant of email hack attacks that can lead to theft from investor accounts.

Also facing charges are the four brokerage firms that gave Nagaicevs access to the markets, which the SEC says consequently lent a veneer of legitimacy to his transactions. These are Alchemy Ventures, KM Capital Management, Mercury Capital and Zanshin Enterprises, which are accused of flouting federal rules that require brokerage firms to be registered and of breaching the requirement to gather information on customers and their trading.

Mercury and Zanshin have settled the charges, but Alchemy and KM Capital are understood to be contesting them.

Nagaicevs is charged with obtaining money fraudulently under the Securities Act, and the SEC is seeking restitution plus interest for victims and a civil penalty. Nagaicevs is yet to comment.

The news comes days after a settlement reached by U.S. hedge fund Diamondback Capital in a separate case. Diamondback is paying $9 million to settle groundbreaking charges around the participation of two former employees in the $62 million (£40 million) insider trading of Dell and Nvidia stock.

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