Reuters (Free subscription) | 11/17/2009
NEW YORK (Reuters) - The criminal prosecution of Sergey Aleynikov, the former Goldman Sachs Group Inc programer charged this past summer with stealing some of the computer code for the firm's high-frequency trading program, appears headed to a rather anti-climatic conclusion.
Crime & Federalism (Free subscription) | 10/20/2009
The Department of Justice is attempting to distract us through boredom: ORDER TO CONTINUE IN THE INTEREST OF JUSTICE as to Sergey Aleynikov re: 6 Order to Continue - Interest of Justice. Time excluded from 10/16/09 until 11/16/09. Follows oral order of 10/16/09. (Signed by Magistrate Judge Douglas F. Eaton on 10/16/09)(aba) (Entered: 10/19/2009) Let's take a quick look at...
Crime & Federalism (Free subscription) | 10/15/2009
Tomorrow we'll find out the fate of Sergey Aleynikov. Will the Department of Justice file an Indictment against him; dismiss the case; or reach some other deal? We'll keep you updated.
Crime & Federalism (Free subscription) | 09/17/2009
The Aleynikov prosecution received more attention that DOJ was prepared for. DOJ is in a tough position - "tough" if you put personal glory ahead of your ethical and legal obligations, that is. If DOJ indicts Aleynikov, they won't obtain a conviction. Aleynikov is not guilty of the crimes he was arrested for. If DOJ dismisses the charges against Aleynikov,...
Crime & Federalism (Free subscription) | 09/11/2009
The next hearing in U.S. v. Sergey Aleynikov, the most disgraceful criminal prosecution since the Duke Lacrosse Case, will be held this coming Wednesday. While we don't know yet whether the charges against Aleynikov will be dismissed, there has been a related development. Bloomberg is reporting that the SEC wants to take a look inside Wall Street's black box: Sept....
newsletter archive (Free subscription) | 09/02/2009
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The Industry Standard (Free subscription) | 08/26/2009
Arrested last month for stealing cutting-edge trading software from his former employer, Goldman Sachs Group Inc., programmer Sergey Aleynikov offered up an interesting defense: he was only trying to download open-source software. According to a report published Sunday in the New York Times , Aleynikov told FBI investigators that he had inadvertently taken about 32 MB of proprietary Goldman Sachs...
The Cynical Economist (Free subscription) | 08/25/2009
From NYT by ALEX BERENSON Flying home to New Jersey from Chicago after the first two days at his new job, Sergey Aleynikov was prepared for the usual inconveniences: a bumpy ride, a late arrival. He was not expecting Special Agent Michael G. McSwain of the F.B.I. At 9:20 p.m. on July 3, Mr. McSwain arrested Mr. Aleynikov, 39, at [...]
Voices (Free subscription) | 08/25/2009
Flying home to New Jersey from Chicago after the first two days at his new job, Sergey Aleynikov was prepared for the usual inconveniences: a bumpy ride, a late arrival.
AterSlash (Free subscription) | 08/25/2009
The New York Times has some interesting details that are surfacing about the recent charges brought against Sergey Aleynikov, the programmer who allegedly stole code from Goldman Sachs on his way out the door to another job. “This spring, Mr. Aleynikov quit Goldman to join Teza Technologies, a new trading firm, tripling his salary to about $1.2 million, according to the complaint.
The Business Insider (Free subscription) | 08/24/2009
Matt Taibbi got fresh ammunition for his on-going critique of Goldman Sachs (GS) today. As we've noted, The Wall Street Journal revealed Goldman gives top clients its analyst tips in advance , and The New York Times wrote about the case of Sergey Aleynikov , who stole Goldman’s high-frequency trading program. That, Taibbi says, fits into his argument about Goldman being a Vampire Squid on the...
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secret software
Secret Software & Naked Short Selling We need NSS arrests - not Insider Trading arrests It is November 5th, 2009 at high noon and the SEC is all over...
Millisecond Trading
Millisecond trading is about performing aggressive, sophisticated market-making that induces stable feedback systems, like warm water feeding a hurricane,...
Computer Nerds Blog (Free subscription) | 08/24/2009
The New York Times has some interesting details that are surfacing about the recent charges brought against Sergey Aleynikov, the programmer who allegedly stole code from Goldman Sachs on his way out the door to another job. "This spring, Mr. Aleynikov quit Goldman to join Teza Technologies, a new trading firm, tripling his salary to about $1.2 million, according to the complaint. He left Goldman...
Crime & Federalism (Free subscription) | 08/24/2009
Sergey Aleynikov was arrested for theft of trade secrets, in violation of 18 U.S.C. §1832. The United States Attorneys Manual is an internal document that "contains general policies and some procedures" regarding the prosecution of federal crimes. Here is what the United States Attorney Manual has to say about arresting people for theft of trade secrets: Economic Espionage Act of...
The Business Insider (Free subscription) | 08/24/2009
The New York Times has an update on Sergey Aleynikov, the former Goldman Sachs (GS) employee accused of stealing code relating to high-frequency trading. The report doesn't push the story along too much further. Aleynikov is out on bail and claims he inadvertantly downloaded only a snippet of code, which he never used. Goldman says the code he downloaded could endermine the company's entire investment...
EconomicPolicyJournal.com (Free subscription) | 08/18/2009
The man that the FBI jumped to bring to justice at the behest of Goldman Sachs, Sergey Aleynikov, appears close to getting a pass on his alleged theft of Goldman secrets.Goldman apparently has woken up to the fact that a trial would mean big time exposure for the secret high frequency trading methods they use. Aleynikov is going to use this awakening to his advantage.At a hearing in Manhattan
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secret Software
Secret Software & Naked Short Selling We need NSS arrests - not Insider Trading arrests It is November 5th, 2009 at high noon and the SEC is all over...
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