Ex-Goldman Banker Gets Three Months for Insider Trading
From bnnbloomberg.ca
A former Goldman Sachs Group Inc. banker was sentenced to three months in prison for using a secret account to reap thousands of dollars in illegal profits by trading on inside information about company clients. Woojae "Steve" Jung, 38, a South Korean citizen from San Francisco who once worked as a vice president at Goldman Sachs, pleaded guilty in December to helping a friend trade by pointing him to stocks Jung had illicit tips on. Prosecutors allege Jung made more than $130,000 in illegal profits by trading through the alias brokerage account tied to the friend in South Korea. “Woojae Jung used material nonpublic ...
(full story)