Archive · 13 Sep 2025
Ex-Two Sigma Quant Jian Wu Charged with Model Manipulation
A former math whiz at a big investment firm, Two Sigma, is accused of secretly changing the computer models that decide how money is invested.
He did this to make it look like the models were doing better than they were, so he could get a bigger bonus.
The government says he made millions this way.
The company says it lost money due to his actions, and has been penalized by regulators.
The man has denied responsibility and says he is being unfairly blamed, and he has left the company.
Jian Wu, a former Two Sigma quant, was charged with manipulating investment models.
Wu allegedly altered the models to appear more successful, boosting his pay.
The alleged fraud occurred between late 2021 and August 2023.
Two Sigma had to pay penalties and restitution after the SEC investigation.
Wu, currently a fugitive, earned Ph.D.s from USC and Cornell.
- Who
- Jian Wu, a former Two Sigma quantitative researcher.
- What
- Wu allegedly manipulated algorithmic investment models to inflate his compensation.
- When
- The alleged fraud took place between November 2021 and August 2023.
- Where
- Federal court in Manhattan.
- Why
- To inflate his own compensation.
- Defendant
- Jian Wu
- Former Employer
- Two Sigma Investments
- Charges
- Manipulating investment models
- Alleged Fraud Period
- November 2021 - August 2023
- Maximum Prison Sentence
- 20 years
- Wu's 2022 Compensation
- $23 million (allegedly inflated)
- Civil Penalties Paid by Two Sigma
- $90 million