A vice president of investment banking at Goldman Sachs was arrested and charged with using inside information to place profitable trades in advance of the bank’s investment banking deals.
The U.S. Attorney’s office for the Southern District of New York on Thursday accused Woojae “Steve” Jung with using sensitive client information to trade the stocks of companies for which the bank was providing investment banking advisory services, according to a press release. Jung was charged with one count of conspiracy to commit securities fraud and six counts of securities fraud.
‘Enforcement 40’ for 2020
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