Ex-Goldman programmer exonerated for second time

American courtroom

A former Goldman Sachs programmer who took the firm’s high frequency trading code when he left for another job was exonerated a second time after a judge ruled what he did wasn’t a crime.

Bloomberg News reports that Sergey Aleynikov, whose saga helped inspire Michael Lewis’s 'Flash Boys', was tried by New York prosecutors who took up the case after a federal conviction unravelled. His defence both times was that his actions were a disagreement between him and the bank better suited for civil litigation.

A state judge agreed, lining up behind a federal appeals court that found in 2012 existing criminal laws are a bad fit.

Aleynikov, 45, still faces a potential appeal by Manhattan District Attorney Cyrus R. Vance Jr., though the prosecutor has said he won’t seek prison time for Aleynikov, who spent a year behind bars in the federal case.

To access the complete Bloomberg News article hit the link below:

‘Flash Boys’ Programmer in Goldman Case Prevails Second Time

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