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Thu May 31, 2018, 03:42 PM

Goldman Sachs vice president charged with insider trading

Source: Reuters

BANKS MAY 31, 2018 / 12:18 PM / UPDATED AN HOUR AGO

Goldman Sachs vice president charged with insider trading

Brendan Pierson
3 MIN READ

NEW YORK (Reuters) - 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.

“Woojae Jung violated his duty to his company and traded on stolen insider information, over and over again,” U.S. Attorney Geoffrey Berman in Manhattan said in a statement.

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Read more: https://www.reuters.com/article/us-goldman-sachs-insidertrading/goldman-sachs-vice-president-charged-with-insider-trading-idUSKCN1IW2CY

4 replies, 609 views

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Reply Goldman Sachs vice president charged with insider trading (Original post)
Eugene May 2018 OP
Eliot Rosewater May 2018 #1
Ferrets are Cool May 2018 #2
CountAllVotes May 2018 #3
CincyDem May 2018 #4

Response to Eugene (Original post)

Thu May 31, 2018, 03:43 PM

1. While it is still illegal.

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Response to Eugene (Original post)

Thu May 31, 2018, 03:55 PM

2. Facepalm. Oh my. I'm shocked.

NOT

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Response to Eugene (Original post)

Thu May 31, 2018, 04:06 PM

3. $130,000

Just freakin' amazing the way this same exact # $130,000 keeps coming up.

Oh Stormy, where art thou?

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Response to CountAllVotes (Reply #3)

Thu May 31, 2018, 04:16 PM

4. yeah - I'm waiting for Cohen to tell us he really got the $$$ from this guy. n/t

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