A 33 year-old Chinese man pleaded guilty to stealing software code from Federal Reserve Bank of New York.
Bo Zhang, was accused of illegally copying the software code to an external hard drive, according to a criminal complaint filed in U.S. District Court in Manhattan.
The software, which cost the government around $9.5million to develop,is used to give Federal agencies a running blanace of their accounts.
"I knowingly stole and converted to my use an item owned by the United States government valued at more than $1,000," Zhang told U.S. Magistrate Judge Michael Dolinger on Tuesday.
According to Reuters, Zhang also pleaded guilty to one charge of immigration fraud. He is currently free on $200,000 bail and is due to be sentenced on Oct. 1.
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