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Judge denies bail for ex-trader accused of code theft




Judge denies bail for ex-trader accused of code theft
Judge denies bail for ex-trader accused of code theft



http://www.computerworld.com/s/article/9175959/Judge_denies_bail_for_ex_trader_accused_of_code_theft?taxonomyId=17 

By Jaikumar Vijayan
Computerworld
April 23, 2010 

A federal judge in New York has denied bail to a former trader at 
Societe Generale who was arrested earlier this week for allegedly 
stealing proprietary computer code used in a high-speed trading system.

U.S. Magistrate Judge Michael Dolinger ordered Samarth Agrawal, 26 to 
remain jailed, citing flight risk concerns if Agrawal were to be 
released on bail.

Agrawal has been in custody since Monday when he was arrested on one 
count of theft of trade secrets. If convicted, Agrawal, who is a native 
of India, faces a maximum of 10 years in prison.

Agrawal is the second individual to be nabbed in the past year for 
attempting to steal proprietary information involving high-speed trading 
systems. Last July, Sergey Aleynikov, a software developer working for 
Goldman Sachs, was arrested on charges that he stole 32 megabytes of 
proprietary code used in the company's high-speed, high-volume trading 
system.

[...]


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