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发帖数: 3809 | 1 【 以下文字转载自 Quant 讨论区 】
发信人: YonahYou (Yonah), 信区: Quant
标 题: Another Chinese Charged With Stealing Quant Models
发信站: BBS 未名空间站 (Wed Feb 19 16:49:29 2014, 美东)
Total comp $547,000 as a computer system analyst with 3 year working
experience? Two sigma is so generous
http://www.forbes.com/sites/nathanvardi/2014/02/19/analyst-char
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 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.
Gao, a Chinese national who came to the U.S. in 2006 to study at the
Massachusetts Institute of Technology, started working for Two Sigma in 2010
as a computer system analyst. He was paid $547,000 in base salary and
bonuses last year, according to a court document filed by Two Sigma. Gao
resigned from Two Sigma on February 5. Two days later, Two Sigma notified
the Manhattan District Attorney’s Office of “unlawful actions,” according
to a civil complaint Two Sigma filed against Gao that says Two Sigma’s
trading models “are the lifeblood of its business.”
According to the 21-page civil complaint filed by Two Sigma against Gao in
New York state court, the hedge fund learned in early February that Gao has
misappropriated confidential information as part of “an apparent plan to
take that information to a new employer, either one of Two Sigma’s
competitors in the United Kingdom, or to start his own business in China.”
Gao accessed computer files created by other Two Sigma employees and used “
decompiler” programs to view models that had been carefully hidden from
employees, the complaint filed by Two Sigma says. “Two Sigma gathered such
powerful evidence of Gao’s pervasive misconduct that he has been arrested,
and he has admitted to improperly accessing and using its intellectual
property,” Two Sigma says.
Two Sigma claims it first became suspicious of Gao in June 2013, when a
senior managing director at the hedge fund firm confronted Gao about his use
of a decompiler program to view code that did not relate to any of his
models and that he had no authorization to access. Two Sigma claims Gao
admitted to viewing the models and indicated he was only motivated by
curiosity. But Two Sigma claims Gao continued viewing and mathematical
models for hours and emailed data to his personal email account. Two things
made Two Sigma suspicious about Gao in January, the hedge fund’s complaint
against him says. First, Gao contacted a Two Sigma research engineer and
asked for help using a decompiler program. Second, Gao flew to the U.K. for
a job interview with GSA Capital, a competing hedge fund. Two Sigma also
obtained a copy of a letter Gao wrote to U.S. immigration officials,
concerning his intention to start a new company in China. |
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