Goldman Insider Arrested for Stealing Code
July 7, 2009
Total Loss:
Unknown
According to an affidavit (PDF) filed by the arresting FBI officer and subsequently posted by news media, the programmer, Sergey Aleynikov, copied "proprietary trade code" from his company and uploaded it to a Website in Germany. He later quit his job at the New York firm and moved to a new company in Chicago that "intended to engage in high-volume automated trading" -- and paid him around three times his old salary of $400,000, according to the affidavit.
Source:
Dark Reading
Posted in:
Internal Fraud