Forbes – Manhattan District Attorney Cyrus Vance Jr., has accused a former hedge fund analyst of stealing documents that detailed the methods and application of two trading models from a major New York hedge fund firm that specializes in quantitative trading.
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.
