New York - A computer programmer with Goldman Sachs is being held on bail Tuesday, accused of the stealing secret code which helps the Wall Street banking giant execute transactions, according to New York court papers. Sergey Aleynikov, 38, who was arrested on July 3 at Newark Airport and is being held on a 750,000-dollar bail, denies the charge of data theft, according to his lawyer.
The Russian-born Aleynikov, who holds joint US/Russian nationalities, is accused of downloading the code - which helps Goldman Sachs execute security transactions at high speed - to a server in Germany.
If the software gets into the wrong hands, it could cost millions in lost profits, an analyst told Bloomberg financial news service.
"Currently, we do not know who has had access to it," the analyst added.
Goldman Sachs has not yet commented on the case.
