Another Former Fed Employee Pleads Guilty To Stealing Secret Fed Data

Another day, another criminal Fed employee admits to being just that.
Recall that just yesterday we wrote about former NY Fed employee Jason Gross who somehow managed to avoid a prison sentence, but was slapped on the wrist with a $2,000 fine after he admitted to stealing confidential NY Fed data and handing it over to his former supervisor in his new role working for Goldman Sachs.
As it turns out he wasn’t the only “cockroach” – moments ago the DOJ Office in Illinois announced that another former senior analyst at the Chicago Fed, Jeffrey Cho, 35, has pled guilty to stealing “sensitive financial data” which he took with him days before resigning from the Fed and moving to a different employer. The conviction carries a maximum sentence of one year in federal prison. A sentencing hearing has been scheduled for June 21, 2016, at which point we can only expect Cho will get the Jason Gross treatment and get away with merely a fine.
In the charge, the DOJ states that in his role as a Senior Supervision Analyst, Cho had access to sensitive, proprietary and valuable information belonging to the bank. The information included financial data and materials relating to the bank’s responsibility to monitor the health of certain financial institutions in the United States.

This post was published at Zero Hedge on 03/17/2016.