On December 5, David Newman, a former futures trader at a Chicago trading firm, was indicted for three counts of theft of trade secrets. Newman is accused of stealing trade secrets from the trading firm, including computer code for electronic trading and strategies and the firm’s options modeling system. The indictment alleges that he signed a document in 2011 acknowledging that he was not authorized to copy or possess the firm’s trade secrets. It is further alleged that in 2013 and 2014 Newman copied such trade secrets onto a personal thumb drive. United States v. Newman, 14 Cr. 704 (N.D. Ill.) DOJ Press Release.
