A federal magistrate set bail today at $750,000 for the former Goldman Sachs computer programmer accused of uploading secret trading code to a computer server in Germany. The bond must be secured by three financially responsible people, according to the order of US Magistrate Kevin Nathaniel Fox.
Sergey Aleynikov is being held in federal custody in Manhattan on charges that he stole code for a computerized trading operation at an unnamed financial institution believed to be Goldman Sachs.
From Reuters, which has been leading the pack on breaking this story:
In court papers, an FBI agent said Aleynikov worked at an unspecified financial institution as a programmer from May 2007 until June 5, when he left to work for a new company focused on high-volume automated trading.
The case could shed light on the intricate trading systems developed by Goldman, and also raises questions about the security of Wall Street’s proprietary trading operations.
Aleynikov’s wife, Elina, told Reuters on Sunday that her husband is innocent.
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