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U.S. Prosecutors Charge Programmer For Stealing Code From the Federal Reserve Bank of New York

News Article

U.S. Prosecutors Charge Programmer For Stealing Code From the Federal Reserve Bank of New York

News Article by Jonathan Vanian | Comments: (0) | Wed, 01/18/2012 - 6:27pm
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U.S. Prosecutors charged a programmer for stealing the U.S. Treasury Department’s proprietary software code from the Federal Reserve Bank of New York, according to Reuters. The code supposedly “cost about $9.5 million to develop.”

From Reuters: The complaint, signed by an FBI agent, said Zhang had admitted to copying the code onto a drive and taking it back to his home.

Zhang told investigators he took the code "for private use and in order to ensure that it was available to him in the event that he lost his job," the complaint said.

If prosecutors successfully convict Zhang, he “could face up to ten years in prison,” according to the Associated Press

From the Associated Press: A criminal complaint said Zhang admitted copying the code for use on his private office computer, his home computer and his laptop. The complaint said he then used the code in connection with a private business he ran training individuals in computer programming. A lawyer for Zhang declined to comment.

  • Security
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