Bail set at $750,000 for ex-Goldman programmer

News Type: Event — Seeded on Mon Jul 6, 2009 1:19 PM EDT

Article Source: Reuters

us-news, russia, germany, sec, espionage, goldman-sachs, wallstreet

Aleynikov, a Russian immigrant living in New Jersey, was arrested on Friday night by FBI agents at Newark Liberty International Airport after returning from Chicago, according to court documents.

He is accused of "theft of trade secrets" related to computer codes used for automated stock and commodities trading at an unspecified financial institution.

Sources familiar with the situation have told Reuters columnist Matthew Goldstein that the financial institution is Goldman Sachs.

A Goldman representative declined to comment on Monday. A lawyer for Aleynikov, Sabrina Shroff, also declined to comment.

Authorities contend that Aleynikov improperly copied a financial institution's proprietary computer code and then uploaded it to a computer server in Germany.

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{"commentId":8054580,"authorDomain":"QuietDogood"}

Quiet Dogood

Wow, what are the implications of this? Is this espionage? A way to subvert the Stock market in general, or a way to skim money out of Goldman-Sachs billions? As someone who has programmed for many years I have several questions on this. Who put him up to it? How much was he going to be paid? How much code and what all did he work on and implement? Who was covering IT application security at Goldman-Sachs? Who else in the IT team colluded with him? IT executives need to get fired for this security breach and I am sure there will be others indited on this. Now who was the German company involved? Is there Russian ties to this? Are Goldman-Sachs account values true? Wow there is should be massive audits going on there now as I write this. This could make a great novel or movie.

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1 vote

#1 - Mon Jul 6, 2009 1:29 PM EDT

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QUIET DOGOOD

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Bail set at $750,000 for ex-Goldman programmer

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