A former Goldman Sachs (GSF) computer programmer has been sentenced to a maximum of 15 years in prison for allegedly stealing trade secrets and property from the company. Sergey Aleynikov, 40, is scheduled to begin his prison sentence in March, the U.S. Attorney's Office of New York's Southern District said Friday.

Aleynikov, who worked at Goldman for about two years, allegedly tranferred "substantial portions" of Goldman's proprietary trading-platform computer code to a computer server in Germany on his last day with the company in June 2009. He also allegedly transferred "thousands" of Goldman's computer-code files to his home computer.

The theft was aimed at helping Chicago-based startup Teza Technologies, where Aleynikov had accepted a job, develop its own high-frequency securities trading operations. "The brazen theft of intellectual property by Sergey Aleynikov had the potential to cause serious harm to the company, and now he will pay for his crimes," Manhattan U.S. Attorney Preet Bharara said in a statement.

Aleynikov was arrested in Newark, N.J., the day after he brought his laptop and another file-storage device to Teza's Chicago offices last July.

Increase your money and finance knowledge from home

Investing in Startups

The lucrative and risky world of startups.

View Course »

What are Penny Stocks

The lucrative and dangerous world of penny stocks.

View Course »

Add a Comment

*0 / 3000 Character Maximum


Filter by:

Ahh...yes. The codes could be used to manipulate the market if they fell into the "wrong" hands. But G&S would of course never, never, ever use them for that! When will people wake up and demand that this G&S scum, and the blatantly corrupt politicians who serve them, be held to account for their plundering of the country?!

December 12 2010 at 5:19 PM Report abuse rate up rate down Reply

Why should he be punished so harshly? The company help perpetrate the greatest financial crimes of all times two years ago and suffered nary a whisper. That's "justice" in the good ole US of A. The rich elite shall do as they want and let the working slugs do "time" in more ways than one.....

December 12 2010 at 7:21 AM Report abuse rate up rate down Reply

America is waiting to see what the punishment is going to be for the brazen atrocities Goldman Sachs has the potential to cause, and has already caused this whole country! Everyone knows what they have been getting away with. How long until they pay for THEIR colossal crimes and are sent to prison?

December 11 2010 at 3:33 AM Report abuse +1 rate up rate down Reply

He should have given the code to Jullian Assange at WikiLeaks instead!

December 11 2010 at 1:31 AM Report abuse +1 rate up rate down Reply

Fuhnniest story I ever read...someone stealing from the biggest thieves in the history of the US and the government going after him. Just goes to show, it is not who steals, it is how much and does the government get the "proper" taste from K Street.

December 10 2010 at 7:10 PM Report abuse +2 rate up rate down Reply