Ex-Goldman programmer faces second verdict appeal

Top Secret

An ex-Goldman Sachs programmer who twice won reversal of guilty verdicts for taking the firm’s high-frequency trading code when he left for another job isn’t yet in the clear as prosecutors press an appeal.

Bloomberg News reports that Manhattan District Attorney Cyrus Vance Jr. will challenge the dismissal of charges against Sergey Aleynikov, whose saga helped inspire Michael Lewis’s 'Flash Boys', Joan Vollero, a spokeswoman for prosecutors, said Monday.

Aleynikov was convicted by a Manhattan jury in May of stealing Goldman’s computer code. Earlier this month, a judge overturned the verdict after finding that state law didn’t outlaw his conduct. A federal jury in 2010 found Aleynikov guilty of stealing intellectual property, only to have an appeals court toss that finding.

Aleynikov’s lawyer, Kevin Marino, said in a statement that he’s confident Justice Daniel Conviser’s 'sound, 72-page decision' on July 6 will be upheld on appeal. To pursue an appeal is 'inexcusable' because there was no evidence at the trial that Aleynikov sought to acquire the 'major portion' of the code’s value, as the law requires, Marino said.

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

Aleynikov Prosecutor to Appeal Second Verdict Reversal

Zurich Evaluating Potential Offer for RSA Insurance Group

JefferiesAnd the Best Place to Work in the global financial markets 2018 is...

Register for HITC Business News