Ex-SocGen Trader To Remain In Jail In Code Theft Case

Law360, New York (April 22, 2010, 5:00 PM EDT) -- A magistrate judge has denied bail to Samarth Agrawal, a former Societe Generale SA trader accused of stealing computer code related to the investment firm's high-frequency trading system.

Magistrate Judge Michael H. Dolinger of the U.S. District Court for the Southern District of New York entered a detention order for Agrawal on Thursday.

Agrawal allegedly told an uncover federal investigator that he planned to return to his native India, a factor in his being denied bail, the Wall Street Journal reported.

The defendant also wired $150,000...
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