Quant Trader Faces Federal Charges for Alleged Source Code Theft in New York

Federal prosecutors in New York have brought allegations against a quantitative trader, accusing him of illicitly acquiring source code secrets valued at billions, from his previous employer to benefit his own trading enterprise. An indictment, which was unsealed on Wednesday in the New York federal court, outlines the accusations concerning this purported theft of intellectual property. For further details and developments surrounding the case, you can read the indictment information on Law360.