Three indicted in alleged source code theft from trading house

[InfoSec News <alerts () infosecnews org>]

http://www.networkworld.com/news/2013/100813-three-indicted-in-alleged-source-274610.html

By Jeremy Kirk
IDG News Service
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.

[...]



--
Find the best InfoSec talent without breaking your
recruiting budget! Post a Job, $99 for 31 days.
Hot InfoSec Jobs - http://www.hotinfosecjobs.com/