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News Link • Federal Reserve

U.S. charges Chinese man with NY Fed software theft

• Reuters

U.S. prosecutors arrested a Chinese computer programmer on charges he stole software code valued at nearly $10 million from the Federal Reserve Bank of New York.

Bo Zhang, 32, of Queens, New York, worked as a contract programmer at the bank. He was accused of illegally copying software to an external hard drive, according to a criminal complaint filed in U.S. district court in Manhattan.

Authorities said the software, owned by the U.S. Treasury Department [which makes it public], cost about $9.5 million to develop.

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