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Former Goldman Sachs (GS) employee Sergey Aleynikov is being held on three counts of theft of trade secrets, cross-border transport of stolen property, and unauthorized computer access after he allegedly stole computer codes related to the company's high-frequency trading programs upon his resignation in April of 2009.

According to CNBC, "Goldman attributes millions of dollars of its annual profits to those propriety codes. Also in April, Aleynikov accepted a position at Teza Technologies to program a similar trading platform."

Continue reading Former Goldman Sachs Employee Charged with Theft of Trade Secrets

Former Goldman Sachs Employee Charged with Theft of Trade Secrets originally appeared on BloggingStocks on Fri, 12 Feb 2010 17:00:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>bloomberginthenewssergey aleynikovteza technologiesFri, 12 Feb 2010 17:00:00 EST<![CDATA[Who is the Russian accused of stealing Goldman's top secret trading codes?]]>http://www.bloggingstocks.com/2009/07/06/who-is-the-russian-accused-of-stealing-goldmans-top-secret-trad/http://www.bloggingstocks.com/2009/07/06/who-is-the-russian-accused-of-stealing-goldmans-top-secret-trad/http://www.bloggingstocks.com/2009/07/06/who-is-the-russian-accused-of-stealing-goldmans-top-secret-trad/#commentsFiled under: ,

Why does Goldman Sachs Group (NYSE: GS) earn so much money trading equities? The answer lies in a proprietary set of secret codes that Goldman uses when making their trades. In the first quarter of this year Goldman raked in $2 billion dollars from its equity trading and is the leading trader on Wall Street. Even the venerable JPMorgan Chase & Company (NYSE: JPM) only made $1.8 billion.

Now a Russian, named Sergey Aleynikov, who previously worked for Goldman is accused of stealing Goldman"s secret codes. These codes are the property of Goldman and enables them to do high speed and high volume trades in various stock and commodity markets.

Continue reading Who is the Russian accused of stealing Goldman's top secret trading codes?

Who is the Russian accused of stealing Goldman's top secret trading codes? originally appeared on BloggingStocks on Mon, 06 Jul 2009 19:00:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>goldman sachsGSJPMrussiaSergey Aleynikovtrading codesMon, 06 Jul 2009 19:00:00 EST