One of 38 people charged in a global crime ring that allegedly stole personal information from unsuspecting Internet users pleaded guilty Tuesday to a federal fraud charge.

Ovidiu-Ionut Nicola-Roman, 22, of Craiova, Romania pleaded guilty to conspiracy to commit fraud in U.S. District Court in Bridgeport.

Authorities accuse the defendants of stealing names, Social Security numbers, credit card data and other information from Internet users. Federal indictments allege the Romania-based phishing scams sought to rip off thousands of consumers and hundreds of financial institutions.

Prosecutors estimate that Nicola-Roman was responsible for more than $400,000 in thefts. He faces a prison term of 46 to 57 months and possible fines and restitution payments when he is sentenced Oct. 10.

His lawyer, Ronald Resetarits, declined to comment after the plea.

Nicola-Roman still faces similar federal charges in California, where most of the defendants were indicted.

The practice known as phishing typically involves sending fraudulent e-mails that include links directing recipients to fake Web sites, where they are asked to input sensitive data. Phishers may also include attachments that, when clicked, secretly install "spyware" that can capture personal information and send it to third parties over the Internet.

More than half the people charged are Romanian, although the alleged scams also operated from the United States, Canada, Portugal and Pakistan. The cases were linked by Nicola-Roman and another Romanian who authorities allege participated in both schemes.

In Connecticut, seven Romanians were accused of spamming consumers with directions to visit a hacked-in Web site posing as at least a half-dozen legitimate bank sites, including Citibank, Wells Fargo and PayPal.

In Los Angeles, 33 people were charged with counts including racketeering, bank fraud and identity theft. Prosecutors say phishers based in Romania snagged information about thousands of credit and debit card accounts and other personal data from people who answered spam e-mail. The data were then sent to the U.S. and encoded on magnetic cards that could be used to withdraw money from bank accounts.

Nicola-Roman was arrested in Bulgaria last summer and extradited to the United States in November.

Surprisingly large second-quarter losses at Wachovia Corp. and Washington Mutual Inc. have quickly revived concerns that the financial sector still has a long way to go before it recovers from the year-old credit crisis.

Wall Street shook off early doldrums and closed sharply higher Tuesday after another drop in oil prices encouraged investors to set aside financial sector worries and go bargain hunting across the market. The Dow Jones industrial average rose more than 130 points.

Wall Street shook off early doldrums and closed sharply higher Tuesday after another drop in oil prices encouraged investors to set aside financial sector worries and go bargain hunting across the market. The Dow Jones industrial average rose more than 130 points.

Wall Street traded modestly higher Tuesday as investors were encouraged by another sharp drop in oil prices and snapped up shares of undervalued financial companies.

The five largest quarterly losses for U.S. retail banks, who suffered the losses, how big they were and when they occurred, according to Standard & Poor's Compustat:

Wall Street traded mostly higher Tuesday as investors were encouraged by another sharp drop in oil prices and snapped up shares of undervalued financial companies.

Wall Street traded mostly higher Tuesday as investors were encouraged by another sharp drop in oil prices and snapped up shares of undervalued financial companies.

Wall Street traded mostly higher Tuesday as investors were encouraged by another sharp drop in oil prices and snapped up shares of undervalued financial companies.

Wall Street traded mixed Tuesday after discouraging quarterly results from Wachovia Corp. and other blue chips heightened concerns about the continuing impact of the credit crisis. A drop in oil prices lifted stocks from a sharp early loss.