Goldman Sachs vice president charged with insider trading

[laserhaas]

Source: Reuters

Link to tweet

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Federal prosecutors charged a vice president at Goldman Sachs Group Inc (GS.N) on Thursday with insider trading by illegally using non-public information about several companies that were clients of the investment bank.

Prosecutors said Woojae "Steve" Jung, a 37-year-old Korean citizen, made more than $130,000 by trading illegally on confidential information relating to upcoming transactions and merger negotiations that he was privy to through his job.

Authorities said Jung, who joined Goldman in 2012 and worked in San Francisco, conducted his trades through a brokerage account in the name of a friend living in South Korea. The brokerage account was accessed from internet addresses that were traced to Jung, according to the U.S. Securities and Exchange Commission.

Read more: https://www.google.com/amp/s/mobile.reuters.com/article/amp/idUSKCN1IW2CY

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Oops! - Somebody at Jay Clayton's SEC is slipping. - Usually - feds are hands off Goldman Sachs.

[lordsummerisle]

1. Insider trading?

Trump must be thinking that's no big deal, put him on the pardon list...

[djacq]

2. He's on the Orange Clown Nice List as we are reading this

Easy guess on who’s on his Naughty List.

[C Moon]

3. So much of this goes on, it makes me wonder how many have never been caught?

[laserhaas]

4. Much Worse than you can imagine

Sachs rips off the customers they represent IPO

[C Moon]

5. grrrr

[tom_kelly]

6. Pardon me, please... n/t

[not fooled]

7. Pardon my cynicism

but sure looks like the guy who got caught was not an American citizen, not working in New York, and therefore likely not part of the real insider group. Gotta catch a small fish occasionally to keep the heat off the main criminals.

lloyd blankfein and jamie dimon are the biggest crooks in America (well, excepting the crook currently in the White House).

[laserhaas]

8. You have - No Idea

How true your remarks - are