NY Employee Accused Of Taking Federal Reserve Code

Published January 19, 2012 2:00AM (EST)

NEW YORK (AP) — A computer programmer who worked at the Federal Reserve Bank of New York has been accused of stealing computer code used to track government finances.

Bo Zhang (zahng) was arrested Wednesday. Authorities say he stole the code last summer while working on it as a contract government employee.

The 32-year-old Queens resident could face up to 10 years in prison if convicted.

The Federal Reserve Bank of New York is part of a system that helps operate the nation's payment systems and protects consumers dealing with banks.

A criminal complaint says Zhang admitted copying the code for use on his private office computer, home computer and laptop. The complaint says he used the code in connection with a private business he ran training people in computer programming.

A defense lawyer has declined to comment.

By Salon Staff

MORE FROM Salon Staff

Related Topics ------------------------------------------