Hedge fund analyst charged with stealing confidential data

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A former hedge fund analyst has been charged with stealing confidential computer data from his previous employer, the latest crackdown by the Manhattan district attorney on suspected violations of cybersecurity.

The New York Times reports that the five felony charges against Kang Gao, who worked at the hedge fund Two Sigma Investments, include computer trespass and unlawful duplication of computer related material. A grand jury indicted Gao, a spokesman for the district attorney’s office said. Specific charges in the indictment are scheduled to be disclosed next month.

Gao was arrested on February 11th, and Two Sigma filed a civil lawsuit three days later, according to court documents. The hedge fund, which specializes in a computer-driven investment strategy called quantitative trading, contends that Gao planned to give confidential information on its models to a competitor or use it to start his own firm in China. Gao is a Chinese national.

To access the complete New York Times article hit the link below:

Former Hedge Fund Analyst Charged with Stealing Data

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