https://www.bloomberg.com/news/articles/2019-10-23/former-sec-employee-charged-with-stealing-data-to-land-new-job
By Patricia Hurtado
Bloomberg
October 23, 2019
When Michael Cohn left his job with the enforcement arm of the U.S. Securities
and Exchange Commission in 2018, he took more than his ambitions to work on
Wall Street, prosecutors say.
Before leaving, Cohn repeatedly hacked into the regulator’s computers and stole
“highly sensitive” information about an ongoing regulatory probe that he used
to land a $400,000-a-year job as chief compliance officer at the private equity
firm that was being investigated, U.S. prosecutors said Wednesday in announcing
charges against Cohn.
Cohn, 59, disclosed the inside information while interviewing at GPB Capital
Holdings LLC and accepted an offer for the new job four days after his last day
with the government in October 2018, a prosecutor told a judge in Central
Islip, New York, in a letter. Cohn had worked for the SEC’s asset management
unit since 2014, according to his LinkedIn profile.
He was charged with obstruction, obtaining information from a government
computer and unauthorized disclosure of confidential information in a revised
indictment made public on Wednesday.
“The defendant abused the trust placed in him as an SEC employee,” Brooklyn
U.S. Attorney Richard Donoghue said. “No one gets a pass for breaching the
security of government computer networks and misusing sensitive and
confidential information for their own benefit.”
[...]
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