A former systems administrator for financial services firm UBS went on trial this week for allegedly infecting the company’s network with malicious code that cost millions of dollars to recover from. Roger Duronio, 63, faces one count each of securities fraud and computer sabotage, and two counts of mail fraud in U.S. District Court in Newark, N.J. He has pleaded not guilty to the charges. In opening statements Tuesday, federal prosecutors painted Duronio as an employee so irate about his less-than-desired salary bonus in late 2001 that he developed malicious code to delete files and cause a major disruption on UBS’s network once the “computer bomb” detonated.According to prosecutors, shortly after Duronio created the code in late 2001, he quit his job and banked thousands in “put” options against UBS, in which he would profit if the company’s stock price declined by March 15, 2002, as a result of the attack he had allegedly set to launch against computer systems on March 4. Prosecutors said that “within an hour or so” of walking out the door from UBS, Duronio was at a securities office buying “puts” against UBS. The mail fraud charges relate to confirmation of purchases of the puts that were sent through the U.S. Postal Service. The damage caused by the malicious code impaired trading at the firm that day, hampering more than 1,000 servers and 17,000 individual workstations. The attack cost UBS about US$3 million to assess and repair, said Assistant U.S. Attorney V. Grady O’Malley. “It took hundreds of people, thousands of man hours and millions of dollars to correct,” O’Malley told jurors. Lawyers defending Duronio said in opening remarks that UBS withheld information about the computer fraud investigation from the government. Other UBS users could have accessed the company’s system using Duronio’s password, and UBS’s systems were also vulnerable to outside attackers, they said.Duronio had also purchased puts against other companies in addition to UBS, said defense attorney Chris Adams, a partner at Walder Hayden & Brogan in Roseland, N.J., in his opening statement.U.S. District Judge Joseph Greenaway is hearing the case.-Shelley Solheim, IDG News Service (New York Bureau)Check out our CIO News Alerts and Tech Informer pages for more updated news coverage. Related content feature 7 ways to spot hidden IT talent within your ranks Your organization has hidden IT superstars in the making — both within and outside IT. Here’s how to find and elevate them for maximum impact. By John Edwards Jun 07, 2023 8 mins Staff Management feature The NBA’s digital transformation is a game-changer The National Basketball Association’s move to Azure cloud is helping improve fan experience and in-game performance due to analytics- and AI-assisted tools aimed at unlocking data’s full potential. By Paula Rooney Jun 07, 2023 9 mins Microsoft Azure Media and Entertainment Industry Digital Transformation case study How Palladium targets tech to better serve the business Palladium Hotel Group has prioritized strategies surrounding its digital transformation, with a focus on two primary objectives: to improve the business and better customize the customer experience. By Nuria Cordon Jun 07, 2023 4 mins CIO Travel and Hospitality Industry Digital Transformation Saudi Vision 2030: Why the Kingdom is becoming a hub in EdTech education By Andrea Benito Jun 07, 2023 5 mins Podcasts Videos Resources Events SUBSCRIBE TO OUR NEWSLETTER From our editors straight to your inbox Get started by entering your email address below. Please enter a valid email address Subscribe