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Anoter quant analyst from MIT accused of stealing trading model and algo as a software developer: Base pay of $547K

(Last Updated On: November 8, 2014)

Anoter quant analyst from MIT accused of stealing trading model and algo as a software developer: Base pay of $547K

Uh, This guy was not so smart if he go paid that much and being from MIT. The highlights include:

Kang Gao, a 28-year-old who until recently worked as a quantitative analyst at Two Sigma Investments, was arrested last week and charged by the Manhattan District Attorney of felony offenses, including computer trespass, criminal possession of computer related material and unauthorized use of secret scientific material. Gao admitted to Matthew Winters, a senior investigator of the New York County District Attorney’s Office, that he had emailed himself models that he was not permitted to view, according to a felony complaint filed in New York state court in Manhattan. Gao emailed to his personal email account copies of documents describing the trading models in late January and emailed a confidential presentation outlining research and market overviews in August, the court document says.

http://www.forbes.com/sites/nathanvardi/2014/02/19/analyst-charged-with-stealing-quant-trading-models-from-major-hedge-fund/

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