UBS 'logic bomber' gaoled for eight years

UBS 'logic bomber' gaoled for eight years

A former IT worker for UBS has been sentenced to eight years in prison for attempting to profit by planting a 'logic bomb' computer virus on the bank's network that caused more than $3 million in damage.

Roger Duronio, 64, was found guilty of computer sabotage and securities fraud in July.

He was employed as a systems administrator in UBS Paine Webber in New Jersey when he built the logic bomb because he was unhappy with his annual bonus payment.

Duronio planted the code in some 1000 of PaineWebber's 1500 networked computers in branch offices around the country and activated the program in March 2002 after resigning from the bank.

In the month before the bomb went off, Duronio spent more than $21,000 on 318 put option contracts, so if UBS shares fell in value following the network failure he would make a profit. But Duronio ultimately lost the money he invested because the scam failed to reduce the bank's share price.

A federal judge in New Jersey has now sentenced Duronio to 97 months in prison for securities and computer fraud connected to his use of the logic bomb. He has also been ordered pay $3.1 million in restitution to his former employer to cover network damage and repair costs.

Commenting on the case, US Attorney Christopher Christie says: "Duronio acted out of misplaced vengeance and greed. He sought to do financial harm to a company and to profit from that, but he failed on both counts. The jury recognised this, and the judge did too by imposing a sentence at the top of the applicable range."

Comments: (0)