A Goldman spokesman declined to comment on the incident
A Goldman spokesman declined to comment on the incident.Calls to Aleynikov's home in New Jersey, which he shares withhis wife, were not returned. On July 4, Aleynikov was processed on a "theft of tradesecrets charge" in a criminal complaint. It appearsthat the financial institution allegedly victimized byAleynikov had alerted federal authorities that its formeremployee might be up to no good. Aleynikov apparently had juststarted a job with another big firm in Chicago after leavinghis previous employer in New York in early June. The criminal case began to unfold on the evening of July 3,when Aleynikov was arrested by FBI agents at Newark Airportafter returning from Chicago. The criminal case has the potential to shed a light on theinner workings of an important profit center for Goldman andother Wall Street firms. The charges also raise seriousquestions about the safeguards that Wall Street firms deploy toprotect these costly-to-build proprietary trading systems.
Federal authorities say theplatform quickly processes rapid developments in the marketsand using secret mathematical formulas, allows the firm to makehighly-profitable automated trades. Federal authorities contend the computercodes and related-trading files that Aleynikov uploaded to aGerman-based website help this major financial institutiongenerate millions of dollars in profits each year. The platform is one of the things that gives Goldman anadvantage over the competition when it comes to the rapid-firetrading of stocks and commodities. The charges, if proven, are significant because the codesthat the accused, Sergey Aleynikov, tried to steal are thesecret sauce to Goldman's automated stock and commoditiestrading business. Authorities did not identify the firm, but sourcessay that institution is none other than Goldman Sachs.
--Matthew Goldstein is a Reuters columnist. The views expressedare his own.-- (Repeating to add name of columnist in headline) Stocks | Bonds | Funds News | ETFs News | Russia By Matthew Goldstein NEW YORK, July 5 (Reuters) - Did someone try to stealGoldman Sachs' secret sauce? While most in the United States were celebrating the Fourthof July holiday, a Russian immigrant living in New Jersey wasbeing held on federal charges of stealing secret computertrading codes from a major New York-based financialinstitution. influence.The Obama administration has so far given the OAS the lead role in seeking a solution. It has also held off on issuing a legal determination of the ouster as a coup -- a definition that would force a cutoff of aid to the country.(Additional reporting by Alonso Soto in Washington, and Gustavo Palencia and Mica Rosenberg in Tegucigalpa, Editing by Frances Kerry) World France. image in Latin America, where Chavez has used his oil wealth to spread a message of socialist revolution to counter U.S.
The caretaker government, installed hours after the coup, has said it legally removed a president who violated the constitution.The coup has thrown up a test for regional diplomacy and for President Barack Obama's ability to mend the battered U.S. foe.Several countries at the OAS meeting had advised against the ousted president's plan to return, and a local church leader warned of possible violence if he tried to go home.The Obama administration, European governments and Zelaya's left-wing allies have condemned his ouster. The IADB said last week it was suspending loans over the coup.Zelaya, a businessman who edged to the left after he came to power in 2006, upset traditional elites, including members of his own Liberal Party, with what critics say was an illegal attempt to lift presidential term limits and by establishing closer ties with Venezuelan President Hugo Chavez, a U.S. We cannot allow recklessness," Ortez told local radio.In Tegucigalpa, thousands of Zelaya supporters, some carrying sticks, rallied to back his return. The interim government has already said Zelaya will be arrested if he enters Honduras."I have given orders that he not be allowed back.
General Assembly President Miguel D'Escoto, according to Venezuela's foreign minister and Caracas-based Telesur regional television, which showed images of the ousted president boarding an aircraft."I am sure that in the next few hours we will be telling you about our arrival in this plane in the capital of Honduras, Tegucigalpa," Zelaya said.Zelaya, a leftist who had been due to leave power in 2010, was bundled out of office at gunpoint by troops and flown into exile in Costa Rica a week ago in a coup that has been widely condemned abroad.In Honduras, Enrique Ortez, foreign minister of the caretaker government installed hours after the coup, said before Zelaya left Washington that any aircraft carrying him would not be allowed to land. World | FranceThe aviation authority in Honduras, which has been slapped with suspension from the Organization of American States over its refusal to reinstate Zelaya, said Zelaya's plane had been directed to go to El Salvador.Zelaya had left Washington shortly before on a chartered plane, accompanied by U.N. TEGUCIGALPA (Reuters) - Ousted Honduran President Manuel Zelaya departed on a flight for his country on Sunday, but the interim government that has defied international pressure over last week's coup said it would not let his plane land. (Editing by Catherine Bosley and Sara Ledwith) Stocks Bonds. But I won't tell you who ended up agreeingto the deal, in case they're prompted to take another closerlook at my personal records. TheBritish bank I have used for more than 25 years refused toaccept it And then, again, there was my mortgage Well, reader, Ieventually got one.