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.
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