[ISN] Former hedge fund researcher pleads guilty to helping colleague hide trade-secret thefts

http://www.chicagotribune.com/news/local/breaking/chi-former-hedge-fund-researcher-pleads-guilty-to-helping-steal-trade-secrets-20140812-story.html By Jason Meisner Chicago Tribune August 12, 2014 A former researcher with Chicago-based Citadel LLC pleaded guilty today to helping a colleague try to hide personal computers that had been used to steal trade secrets from the giant hedge fund’s high-speed automated trading system. Sahil “Sonny” Uppal, 26, of New Jersey, had been scheduled to go to trial next month in federal court in Chicago, but he pleaded guilty to one count of obstruction of justice just days after co-defendant Yihao “Ben” Pu entered a guilty plea to charges he stole trade secrets. Under federal sentencing guidelines, Uppal faces up to 16 months in prison at his sentencing in November. Prosecutors said Uppal and Pu were co-workers at an undisclosed New Jersey-based trading firm and later at Citadel, where Uppal’s primary job responsibilities included researching and developing a high-frequency trading strategy for equity investments. In July 2011, Uppal helped copy onto Pu’s personal hard drives three files containing research he had used to develop the trading strategy, according to his plea agreement with prosecutors. […]




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