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Three indicted in alleged source code theft from trading house |
October 08, 2013
Two former traders and a third man have been indicted in New York State Supreme Court for allegedly stealing source code and trading strategy files from a brokerage company with headquarters in the Netherlands.The case represents a new focus by prosecutors on intellectual property theft, according to a news release from Manhattan District Attorney Cyrus R. Vance's office Monday. Under New York state law, stealing office toner is a more serious offense than stealing computer source code, the statement said.Two of the men, Jason Vuu and Glen Cressman, both 26, worked for the Manhattan office of the company Flow Traders, which develops its own software for trading on various markets. They resigned from the company in March.Between August 2011 and August 2012, Vuu is accused of emailing himself trading strategies used on several of Flow Trader's trading desk and code contained in the company's proprietary trading platform, the statement said.To read this article in full or to leave a comment, please click here
Link: http://www.pcworld.com/article/2053020/three-indicted-in-alleged-source-code-theft-from-trading-house.html#tk.rss_all
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