Software programmer steals from Goldman Sachs?

July 6, 2009 | By Jim Kim

Sergey Aleynikov was a programmer who helped develop software for Goldman Sachs' program trading unit. He was promised a job by another firm at triple his $400,000 annual salary. At some point, he downloaded the code he had been working on, "presumably on behalf of a new employer," according to media reports. This involved only 32 megabytes of data, which were uploaded to a German website.

The New Jersey-based developer was arrested for theft of trade secrets. Reuters suggests that Goldman Sachs had some suspicions about the employee and tipped off the feds, who looked into the matter. The Federal Bureau of Investigations says Aleynikov began working for the major financial institution in May 2007 and left in early June.

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