NEW YORK CITY — A former Goldman Sachs programmer, hired by a rival last year, was convicted Friday of stealing a secret computer code that enables high-speed trading from the company.
The jury in U.S. District Court in Manhattan convicted Sergey Aleynikov of North Caldwell, N.J., of theft of trade secrets and transportation of stolen property in interstate and foreign commerce.
Aleynikov faces up to 15 years in prison when he is sentenced March 18. Prosecutors called it a case about theft and greed. After the verdict, they requested that Aleynikov wear an electronic bracelet until sentencing. The judge did not immediately rule on the request.
The criminal case was brought after federal authorities concluded that Aleynikov left Goldman Sachs in 2008 with trade secrets to help his new company — Teza Technologies — gain an advantage with high-speed trading. Marino had argued that the case should have been no more than a civil lawsuit rather than criminal charges. Aleynikov, a naturalized U.S. citizen who came to the U.S. from Russia in 1990, left his $400,000 job as a vice president at Goldman Sachs Group Inc. to join Teza Technologies LLC, where he was to be paid $300,000 annually, with a $700,000 bonus in his first year and a revenue-sharing plan that would have added an additional $150,000 annually.