Three charged for stealing secret computer codes

Handcuffs

Charges include emailing trading strategies, valuation of algorithms and proprietary codes.

Reuters News reports that two men have been charged by New York prosecutors with stealing secret computer code from a high-frequency trading firm in an effort to start their own business.

Jason Vuu, a former trader at Flow Traders in Manhattan, was charged with emailing himself trading strategies, valuation algorithms and proprietary code from the firm and sharing the code with another man, Simon Lu, according to criminal complaints filed by the office of Manhattan District Attorney Cyrus Vance.

Another former trader at Flow Traders, Glen Cressman, was charged with copying files containing trading strategies and valuation algorithms without permission, the complaints said.

Paul Shechtman, a lawyer for Lu, and Jeremy Saland, a lawyer for Vuu, did not immediately respond to requests for comment on Monday. Charles Ross, who represents Cressman, said his client was innocent.

'He was a fine employee, and when everything about the case is aired, it will be clear he did nothing wrong,' Ross said.

To view the complete Reuters article hit the link below

Three charged with stealing source code, data from trading firm

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