IT Contractor, Rajendrasinh Makwana was indicted on Tuesday for planting a virus that would have devastated the computers of the mortgage giant Fannie Mae.
Fannie and Freddie Mac are responsible for half the mortgages in America.
They were recently taken into Government hands, in order to stabilise the mortgage market.
It would have caused millions of dollars in damages and might even have shut down the whole thing causing global chaos.
What happened was that the IT Contractor‘s contract was terminated but his server privileges were not.
After his contract was terminated he targeted Fannie Mae‘s computer network.
He intended to damage them by inserting malicious code.
The timebomb would have gone off on January 31st if it hadn‘t been spotted.
Makwana was a contract Unix engineer and had root access to Fannie May servers.
This is a wake up call to all those companies intending to lay off IT workers and contractors.
It is sure to have a bad effect on company / worker relations as workers and contractors are ‘˜seen off the site‘ when they have been terminated.