Suburban man was stealing secrets

By AP

Created: Thursday, September 20, 2012 1:15 a.m. CDT

CHICAGO (AP) – A former software engineer for a major U.S. trading-exchange company has pleaded guilty to stealing source code as he pursued a separate venture to improve electronic trading in China.

The U.S. attorney’s office in Chicago says the former CME Group employee, Chunlai Yang, pleaded guilty Wednesday to two counts of theft of trade secrets.

Prosecutors say the 49-year-old Libertyville man worked for the Chicago-based CME for 11 years. He admitted downloading more than 10,000 files containing CME computer source code.

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