Feeds

Programmer charged with stealing Wall Street-ware

Code worth 'many millions'

Intelligent flash storage arrays

A former Goldman Sachs software designer has been arrested and charged with stealing proprietary software used for the firm's high-speed trading platform.

Sergey Aleynikov, a naturalized US citizen who emigrated from Russia, was arrested on Friday night as he arrived at Newark Liberty International Airport and charged with trade-secret theft. On four occasions since June 1, the 39-year-old programmer downloaded a total of 32 megabytes of data from Goldman Sachs servers in New Jersey, according documents filed in federal court in Manhattan.

The allegedly pilfered software used "sophisticated mathematical formulas to place automated trades in the market," the documents alleged. Such trades typically generate "many millions of dollars." The documents didn't identify Aleynikov's former employer, but during a court hearing on Saturday, prosecutors revealed it was Goldman Sachs.

Aleynikov is being held in jail in Manhattan in lieu of $750,000 bail. Prosecutors allege that his work desktop was used at least four times after hours to transfer the company data to a website located in Germany. The programmer, who earned $400,000 per year, resigned from the job on June 5 to take a job at a Chicago-based company that also intended to engage in high-volume, automated trading, prosecutors said.

After he was taken into custody, Aleynikov told authorities he downloaded files from a Goldman Sachs server but claimed he intended to access only open source code. He later realized he obtained more files than previously intended, he said, although he didn't distribute any proprietary software, he said.

More coverage is here and here. ®

Top 5 reasons to deploy VMware with Tegile

Whitepapers

Choosing cloud Backup services
Demystify how you can address your data protection needs in your small- to medium-sized business and select the best online backup service to meet your needs.
Forging a new future with identity relationship management
Learn about ForgeRock's next generation IRM platform and how it is designed to empower CEOS's and enterprises to engage with consumers.
Security for virtualized datacentres
Legacy security solutions are inefficient due to the architectural differences between physical and virtual environments.
Reg Reader Research: SaaS based Email and Office Productivity Tools
Read this Reg reader report which provides advice and guidance for SMBs towards the use of SaaS based email and Office productivity tools.
Storage capacity and performance optimization at Mizuno USA
Mizuno USA turn to Tegile storage technology to solve both their SAN and backup issues.