Wednesday, July 8, 2009

The Man Accused of Stealing Goldman's Code

He is no John Dillinger or public enemy No. 1. But Sergey Aleynikov nonetheless masterminded a dazzling bank theft, the authorities say, and he did it without brandishing a gun or cracking a vault.

Instead, he cracked — or, rather, hacked — the secrets of Goldman Sachs, according to federal agents. Until a few weeks ago, Mr. Aleynikov, 39, was a computer programmer at Goldman, whose prowess in trading has long made it the envy of Wall Street, The New York Times’s Graham Bowley writes.

But over five days in early June, the authorities say, he stole proprietary, “black box” computer programs that Goldman uses to make lucrative, rapid-fire trades in the financial markets. Their value, experts say, could be incalculable.