Programmer Convicted of Stealing Trade Secrets from Goldman Sachs
Dec 10th 2010 6:15PM
Updated Dec 10th 2010 6:42PM
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.