Ex-SocGen Trader Gets 3 Years For Stealing Code

Law360, New York (February 28, 2011, 7:16 PM EST) -- A New York federal judge on Monday sentenced former Societe Generale SA trader Samarth Agrawal to three years in prison for stealing code for a high-frequency trading program for use in a new job.

Judge Jed S. Rakoff handed the sentence to Agrawal during a hearing in the U.S. District Court for the Southern District of New York, saying the defendant's conduct merited significant punishment but not as much as the six to eight years prosecutors were seeking.

“Mr. Agrawal knew the difference between right and...
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