An analyst at the Federal Reserve Bank of Chicago has admitted to stealing financial data from the bank while he was in discussions for a new job, the Chicago Fed announced on Thursday.
Jeffrey Cho, 35, a former senior analyst at the Chicago Fed admitted in federal court that he stole confidential financial documents from the bank, including data and materials “relating to the bank’s responsibility to monitor the health of certain financial institutions”. Cho pled guilty to a misdemeanor count of theft.
According to his plea deal, in May 2015, while Cho was in discussions to take a new job outside of the bank, he printed confidential Fed documents from his work computer and took them home with him. He also admitted to doing the same thing when he was interviewing for a position with a different company in March 2015.
He will be sentenced at a hearing on June 21. The conviction also prohibits Cho from “participating in the affairs of any U.S. financial institution for at least ten years.”