On April 7, 2017, Zhengquan Zhang was charged with theft of trade secrets for his alleged theft of trading code associated with proprietary algorithmic trading models from his employer, a global financial services company in New York, and was arrested in Santa Clara, California.  According to the complaint, Zhang took steps to steal the code between December 2016 and March 2017, including installing code to identify encryption keys to gain access to the proprietary code, installing software designed to send data to an external third-party site, and using software to capture the usernames and passwords of other employees of the firm in order to gain access to areas of the firm’s computer system that he was not authorized to access.  United States v. Zhang, 17-mag-2467 (S.D.N.Y.). DOJ Press Release