Three are charged with stealing trading data

NEW YORK (AP) - Two former employees of Flow Traders, an electronic trading company, were charged Monday in New York with stealing secret data and computer codes from the company to help start their own business.

Jason Vuu, who worked at Flow Traders until March, emailed himself the company's files seven times between August 2011 and August 2012, the complaint said. On three other occasions this month, Vuu emailed himself codes that are used by Flow Traders to structure and execute its trades, the complaint said.

Vuu renamed the files of his email attachments to make it harder to identify what they were, according to the complaint.

Vuu was charged with nine counts of unlawful duplication of computer related material and 11 counts of unauthorized use of secret scientific material.

Glen Cressman, who worked at Flow Trader in December 2012, emailed himself the company's trading strategies and algorithms from his work email account to a personal one, according to the complaint. The complaint also said that in one instance the file was sent from a co-worker's email account to Cressman's personal email account, but the co-worker was not at work that day. Cressman was charged with two counts each of the same charges.

A third person, Simon Lu, who did not work at Flow Traders, accessed the company's source code from Dropbox, a data storage website. The complaint said that the source code was uploaded by Vuu. Prosecutors said that Lu asked Vuu in online chats if he had access to Flow Traders' source code and other data, saying that the information could help them start their own trading business. Lu was charged with three counts each of the same charges.

Lu's attorney, Paul Shechtman, said: "I believe the evidence will show that Simon never used source code from Flow Traders. We've asked the district attorney's office to keep an open mind as this moves forward."

Charles Ross, an attorney for Cressman, and Jeremy Saland, Vuu's attorney, did not return requests for comment. Flow Traders, which is headquartered in Amsterdam but has trading offices in New York, did not return a request for comment.

The complaint said that each of the files taken from Flow Traders were worth over $2,500.

The complaints were first reported by the Wall Street Journal.


(Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)

Top Stories

  • Not the End
    Officials have another trick up their sleeves to help save King County's bus service

  • Go Sherm!
    Richard Sherman recognized along with Beyonce, Jeff Bezos and the Pope

  • Choke Hold
    The FDA is about to regulate a product that helps people quit tobacco
ATTENTION COMMENTERS: We've changed our comments, but want to keep you in the conversation.
Please login below with your Facebook, Twitter, Google+ or Disqus account. Existing MyNorthwest account holders will need to create a new Disqus account or use one of the social logins provided below. Thank you.
comments powered by Disqus
Sign up for breaking news e-mail alerts from MyNorthwest.com
In the community
Do you know a student who stands out in the classroom, school and community?
Help make their dreams come true by nominating them for a $1,000 scholarship and a chance to earn a $10,000 Grand Prize. Brought to you by KIRO Radio and Comprehensive Wealth Management.

Do you know an exceptional citizen who has impacted and inspired others?
KIRO Radio and WSECU would like to recognize six oustanding citizens this year. Nominate them to be recognized and to receive a $2,000 charitable grant.