A former Goldman Sachs banker was convicted of insider trading by a New York jury on Wednesday, after prosecutors said he passed tips about potential mergers to a friend.
banker was convicted of insider trading by a New York jury on Wednesday, after prosecutors said he passed tips about potential mergers to a friend.
the bank was considering funding in 2017 and 2018. He was convicted on four counts of securities fraud, conspiracy and obstruction of justice.Prosecutors said Goel gleaned the information on six companies targeted for deals - including Spirit Airlines Niranjan, who cooperated with prosecutors as part of a non-prosecution agreement, testified at the trial that he traded on information he received from Goel and agreed to split around $280,000 in profits.
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