UNITED STATES NEWS

Ex-Goldman Sachs investment banker convicted of insider trading charges

Jun 21, 2023, 3:31 PM

NEW YORK (AP) — A former Goldman Sachs investment banker was convicted of insider trading charges Wednesday after a weeklong trial.

Brijesh Goel, 38, of Manhattan, was convicted in Manhattan federal court of securities fraud, conspiracy and obstruction of justice by a jury that deliberated less than a day before concluding he had shared secrets about likely merger-and-acquisition transactions that Goldman Sachs was considering financing.

Sentencing was set for Oct. 19.

Prosecutors said Goel worked in Manhattan at the investment bank when he shared information about potential merger and acquisition deals with a friend who worked at another investment bank in Manhattan.

Goel and the friend agreed to split profits from their illegal trading, which amounted to about $280,000, prosecutors said.

Prosecutors said Goel obstructed justice by deleting electronic communications regarding the insider trading scheme as a grand jury and the U.S. Securities and Exchange Commission investigated.

Adam Ford, an attorney for Goel, declined comment.

United States News

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Ex-Goldman Sachs investment banker convicted of insider trading charges