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A former analyst for hedge fund Two Sigma Investments LLC was indicted in New York on Tuesday on state charges he stole information about the fund’s confidential computer trading models.
Kang Gao, a Chinese national who worked as an analyst for the fund, was indicted on 11 felony counts related to the theft and copying of secret information about the hedge fund’s trading methods, according to an indictment released by Manhattan District Attorney Cyrus Vance….
Between August and January, Gao remotely accessed computers at Two Sigma Investments and emailed himself documents describing the fund’s computer trading models, according to the indictment….
Fund spokeswoman Kelly Howard said: “Two Sigma takes the protection of our intellectual property very seriously. We became aware of potential felony criminal activity of an employee, promptly informed the Manhattan District Attorney and terminated his employment.”