Ex-Citadel Programmer Has Learned Nothing From Sergey Aleynikov

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A federal appeals court found that making Goldman angry is not a violation of federal law, freeingpoor old Sergey so that he could face the same charges in state court. But making Ken Griffin angry? That’s a whole other story—one that could involve 20 years in prison for a plucky 26-year-old programmer who Citadel politely asked to stop downloading its secret sauce onto personal hard drives, but who kept doing it anyway.

Yihao Ben Pu, 26, who was first charged in 2011, today admitted taking the proprietary information from Citadel that year and to an earlier theft of trade secrets from an unnamed company based in Red Bank, New Jersey, that developed HFT infrastructure software….

After Assistant U.S. Attorney Patrick Otlewski recited allegations contained in the plea agreement, Norgle asked Pu what he intended to do, leaving the momentarily confused defendant to ask the judge to clarify his question.

Norgle asked if Pu intended to plead guilty. The 2009 Cornell University graduate replied, “Yes, I plead guilty.”

Ex-Citadel Worker Pleads Guilty to HFT Data Theft [Bloomberg]

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Sergey Aleynikov Is Dancing Again

One thing that I may have mentioned here is that, before I was lured to the blogging industry by the outrageous lucre on offer, I worked at this little establishment called Goldman Sachs. One thing that I probably haven't told you, but that I've mentioned to a few friends and co-workers, is that due to some frankly inexplicable confusion, the time between my telling people "I am leaving to go work for Dealbreaker" and my being escorted out of the building by active-duty Navy SEALS was somewhat longer than you might expect (viz. several nanoseconds). One thing that I've never told anybody, so let's keep it between us, is that I made good use of the delay to download certain files to a flash drive. I won't discuss all the details, since I'm using some of those files to set up my own high-frequency insider trading fund, but I will mention that with the right codes the voice recorders in the GS elevators can be accessed remotely.* One reason I never told anyone about this before is that Goldman takes it badly when people take stuff with them on the way out, and has a tendency to react by having them imprisoned for the better part of a decade. After today, though, it looks like I'm good to go: