A former Goldman Sachs banker leaked details of potential corporate mergers to a friend who traded on the information, a prosecutor told a New York jury during opening arguments of a trial on Monday.
Former Goldman Sachs Vice President Brijesh Goel faces securities fraud, conspiracy and obstruction of justice charges for allegedly tipping his friend Akshay Niranjan to deals the bank was considering funding in 2017 and 2018.
Prosecutors say Goel gleaned the information on at least six occasions about potential transactions – including Japanese chemical manufacturer Kuraray’s $1.1 billion acquisition of Calgon Carbon Corp – from internal Goldman emails, and then tipped Niranjan over games of squash.
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