Goldman Sachs breaks silence on alleged code theft
After more than a week of silence, Goldman Sachs finally commented publicly on the alleged theft of computer codes by former programmer Sergey Aleynikov calling losses sustained as a result would be “very, very immaterial.”
Those words were spoken by David Viniar, Goldman’s Chief Financial Officer, in response to a Reuters question during a conference call with reporters to discuss the company’s robust second quarter earnings.
Aleynikov, a former Goldman computer programmer, was arrested on July 3.
“We still have all of the code,” Viniar said. “It is not like the code had been lost to Goldman Sachs. And even if it had been, it is a small piece of our business.”
A federal prosecutor last week during a bail hearing for Aleynikov made it sound as though the code was of vital importance.
“It is something which they had spent millions upon millions of dollars in developing over the past number of years and it’s something which provides them with many millions of dollars of revenue throughout this time,” Joseph Faccipointe said, according to a court transcript.
Viniar said on Tuesday he was limited in what he could say about the story that just last week threatened to overshadow Goldman’s landmark earnings announcement.
“First of all, there’s an ongoing case so I can’t say much,” Viniar said.
(Photo courtesy of Goldmansachs.com)