Ex-CME worker admits US data theft to help China rival

Source: BBC

Chunlai Yang, a former programmer for CME Group, the largest US futures exchange operator, has admitted to stealing trade secrets from the firm.

He pleaded guilty to downloading CME's computer codes to help boost trading speeds and volumes at a Chinese exchange.

The US government said the potential loss from the theft was between $50m-$100m (£30m-£60m).

Mr Yang, a Chinese national who has US citizenship, faces 10 years in jail.

Read more: http://www.bbc.co.uk/news/business-19658058

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1 replies	Author	Time	Post
Ex-CME worker admits US data theft to help China rival (Original post)	alp227	Sep 2012	OP
It's interesting that a Chinese national citizen gets jail time for a	loudsue	Sep 2012	#1

Response to alp227 (Original post)

Thu Sep 20, 2012, 09:44 AM

loudsue (12,383 posts)

1. It's interesting that a Chinese national citizen gets jail time for a

money-related white collar crime, while Goldman Sachs principals get bonuses for their theft.

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