If you don’t succeed the first time, try, try again. A former Goldman Sachs computer programmer
who was cleared in February of federal charges of stealing high-frequency
trading code has been hit with new charges arising from the same activity,
Reuters told us.
Sergey Aleynikov, the former programmer, now faces charges
brought by the office of Manhattan District Attorney Cyrus Vance, a new twist
in a case first filed by U.S. federal prosecutors in July 2009.
Federal prosecutors had accused Aleynikov of copying and
removing trading code from Goldman in 2009 as he was preparing to take a new
job at Teza Technologies LLC, a high-frequency trading start-up firm in
Chicago.
In throwing out Aleynikov's conviction, the 2nd Circuit had
ruled that the taking of source code was not a crime under a federal law that
makes it illegal to steal trade secrets, and that the code did not qualify as
stolen goods under another federal law. Vance,
however, is trying to prosecute Aleynikov under New York state law, and that
could raise double jeopardy concerns, according to Eugene Cerruti, a professor
at New York Law School who has been a federal prosecutor and public defender…
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