Ex-CME Worker Dodges Prison Time For Trade Secrets Theft

By Lance Duroni (March 3, 2015, 8:11 PM EST) -- An ex-CME Group Inc. software engineer was sentenced Tuesday to four years probation for stealing the source code behind the company's electronic trading platform and shopping it to a Chinese futures exchange, escaping the nearly five-year prison term sought by federal prosecutors.

Chunlai Yang, 51, who pled guilty to two counts of trade secrets theft in 2012, had been facing at least 57 months in prison under the federal sentencing guidelines calculated by the government. But U.S. District Judge John W. Darrah on Tuesday found that prosecutors vastly overstated the loss to CME from the crime, while crediting Yang for "a...

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