The plan was for Kang Gao to do his exit interview with Two Sigma Investments, [a $21 billion quantitative hedge fund in New York], and jump to Citadel LLC, a rival firm in Chicago. He ended up in jail.
He’s accused of stealing Two Sigma secrets and faces a potential four-year prison term.
The prosecutions come as Wall Street is increasingly protective of intellectual property. That include trading models, software codes, and strategies which have become more valuable as firms seek a millisecond advantage over rivals.
Gao is the fourth Wall Street analyst or programmer to be ensnared in a crackdown by the D.A., on intellectual property theft from financial firms. That is only the beginning.
Just a [New] Thought.
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