Science & Technology Law

Calling Goldman Sachs Code Thief's Crime 'Economic Espionage,' Judge Gives Him 8 Years


Discussing in a presentence investigation report an appropriate sentence for a 41-year-old former programmer for the Goldman Sachs investment bank who took proprietary source code before leaving for another job, the probation department recommended a two-year term.

But a federal judge gave Sergey Aleynikov eight years, calling his crime a form of “economic espionage,” reports the DealBook blog of the New York Times.

The government had asked for 10 years in the Manhattan federal court case.

Goldman had paid Aleynikov about $400,000 a year to create the algorithm-based trading code that helped the bank make a profit by buying and selling large numbers of shares based on small changes in prices.

Aleynikov apologized and said he hadn’t intended to profit by taking the code.

Previous:
Applications for Municipal Judge Job Wind Up Exposed to Prying Eyes in Recycling Bin

Next:
Warren Christopher, Lawyer and Ex-Secretary of State, Dies at Age 85


We welcome your comments, but please adhere to our comment policy. Flag comment for moderator.

Leave a comment
Your screen name.
Your email address.