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IT Employee Trades On Confidential Goldman Emails

IT Employee Trades On Confidential Goldman Emails

The SEC alleges that an employee, who worked as an associate in Goldman’s compliance department, traded on confidential information contained in e-mails sent and received by Goldman investment bankers. The employee gained access to investment banker e-mails as part of his work developing surveillance software designed to monitor other employees for potential misconduct such as insider trading.

Washington D.C., Nov. 25, 2015 —The Securities and Exchange Commission today announced insider trading charges against a former Goldman Sachs employee accused of stealing nonpublic information in the firm’s e-mail system so he could trade illegally in advance of client mergers and make more than $450,000 in illicit profits. The SEC has obtained an emergency court order to freeze the assets of the trader and accounts he used to place the illicit trades. READ THE FULL SEC RELEASE >

 

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