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Former Two Sigma Analyst Gao Pleads Guilty to Software Theft

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A former analyst at the quantitative hedge fund Two Sigma pleaded guilty to taking the firm’s data, the second of five men charged in a crackdown on the theft of intellectual property from financial firms to resolve his case.

Kang Gao, 29, a native of China, admitted to a single count of unlawful duplication of computer-related material in a hearing before New York State Supreme Court Justice Jill Konviser in Manhattan today in exchange for a 10-month sentence.