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Press Release

Former Washington University Manager Indicted On Federal Computer Fraud Charges

For Immediate Release
U.S. Attorney's Office, Eastern District of Missouri

St. Louis, MO – DAVID SHEN was indicted on charges involving unauthorized access to protected financial information. The indictment was returned April 23, but remained sealed until Mr. Shen surrendered to authorities earlier today.  

According to the indictment, Shen had been employed with the Washington University Investment Management Company.  In October 2011, Shen resigned from his employment in lieu of termination.  The indictment alleges that after he left Washington University, Shen downloaded protected and sensitive financial information without authorization, and he attempted to gain access to additional sources of information.

Shen, St. Louis, Missouri, was indicted by a federal grand jury on two felony counts of computer fraud and one felony count of wire fraud. 

If convicted, each count of computer fraud carries a maximum penalty of five years in prison and/or fines up to $250,000; wire fraud carries a maximum of 20 years in prison and/or fines up to $250,000.  In determining the actual sentences, a judge is required to consider the U.S. Sentencing Guidelines, which provide recommended sentencing ranges.

The case was investigated by the Federal Bureau of Investigation.  Assistant United States Attorney John Bodenhausen is handling the case for the U.S. Attorney’s Office.

As is always the case, charges set forth in an indictment are merely accusations and do not constitute proof of guilt.  Every defendant is presumed to be innocent unless and until proven guilty.

Updated March 19, 2015