Three charged over trading code theft

Three charged over trading code theft

New York prosecutors have charged two men with stealing trading code and data from their former employer, Flow Traders, and e-mailing it to themselves.

Glen Cressman and Jason Vuu are accused of using their work e-mail accounts to send themselves Flow Traders trading strategies and valuation algorithms, according to Bloomberg.

Vuu shared the source code with a third person, Simon Lu, via Dropbox, says a complaint in state Supreme Court in Manhattan. Using online chats, Lu had asked Vuu if he had access to the data, suggesting that it could be used by them to start their own company.

Vuu faces nine counts of unlawful duplication of computer related material and 11 counts of unauthorised use of secret scientific material. Cressman faces two counts each of the same charges and Lu three counts of each.

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