Goldman Sachs programmer found guilty of algorithmic code theft

Sergey Aleynikov faces 15 years in prison for theft

Sergey Aleynikov, a former Goldman Sachs programmer, has been found guilty of stealing the bank's algorithmic trading code.

Aleynikov was found guilty of theft of trade secrets and transportation of stolen property. The trading systems are so secretive that portions of the testimony were closed off from the public and the media.

While at Goldman Sachs, Aleynikov was a high-level IT developer and had the title of vice president. Following the conviction, he faces up to 15 years in prison, and is awaiting sentencing on March 18. On the judge's order he is subject to home confinement, and is on a watch list to stop him leaving the country should he attempt to do so.

The 40-year old programmer, originally from Russia, had been accused of copying long lines of algorithmic code used in Goldman Sachs' high frequency trading platform, and uploading them to a server in Germany. He was accused of attempting to take the code to a new employer.

Aleynikov's lawyers argued that he was downloading open source code. He also made no attempt to share the code with his new employers, high frequency trading firm Teza Technologies, they said, where he was due to have his salary nearly tripled from what he was earning at Goldman Sachs.

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