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Former Goldman Sachs Computer Programmer Indicted for Theft of Trade Secrets

Updating this story from last July, the New York Times reports that former Goldman Sachs computer programmer, Sergey Aleynikov, has been indicted on charges that he stole trade secrets, specifically the proprietary software that Goldman Sachs uses to make rapid-fire trades in the financial markets.

If convicted, Aleynikov could face up to 25 years in prison, according to the the U.S. Attorney for the Southern District of New York.

Aleynikov left Goldman Sachs in 2009 to join Teza Technologies.

The Times reports that prosecutors say that Mr. Aleynikov, on his last day at Goldman, transferred substantial portions of Goldman?s code to an outside computer server in Germany.

Full post as published by Womble Trade Secrets Blog on February 12, 2010 (boomark / email).