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UBS Logic Bomber Sentenced To Jail
David Utter
Staff Writer
2006-12-15
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Roger Duronio picked up an eight-year and one month prison term in New Jersey for trashing the computers at UBS PaineWebber with a logic bomb in 2002.
 | | UBS Logic Bomber Sentenced To Jail |  |
The scheme involved a stock scam where Duronio shorted shares of UBS PaineWebber. Duronio had bet the logic bomb planted in the firm's network would cause the stock price to fall.
But that didn't happen, and not only did Duronio's scheme backfire, he lost money on the "put" options, his freedom, and probably most of the money he makes upon leaving prison. The US Attorney's Office in New Jersey said in a statement that Duronio's sentence of 97 months was at the top of the range US District Judge Joseph A. Greenway Jr could have given.
Duronio also has to repay the $3.1 million UBS PaineWebber spent in repairing the damage done by the logic bomb. During sworn testimony, it was revealed that Duronio had been displeased with his annual bonus payout of $32,500, as he had expected a $50,000 bonus instead.
Upon quitting his job, Duronio headed directly to the office of broker Gerry Speziale, who said in testimony that Duronio angrily suggested, "God knows what I can do to get even."
After a jury found Duronio guilty of one count each of securities fraud and computer fraud, the judge modified Duronio's $1 million bond by placing him under house arrest until a prison facility has been assigned. Duronio's wife also had to sign an appearance bond for her husband, making her financially responsible for him in case he skips town.
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Tag: Roger Duronio
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About the Author:
David Utter is a business and technology writer for SecurityProNews and WebProNews.
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