Thursday, May 31, 2018

BREAKING Goldman Sachs Executive Charged With Insider-Trading

Woojae “Steve" Jung
A vice president at Goldman Sachs Group Inc. was charged with securities fraud for using inside information on a dozen of  Goldman’s clients to make more than $140,000 from illegal trades with a co-conspirator in South Korea, reports Bloomberg.

Woojae “Steve" Jung, a Korean citizen working at Goldman Sachs’s San Francisco office, was charged with one count of conspiracy and six counts of securities fraud for running the scam from 2015 to 2017, according to records unsealed Thursday in federal court in Manhattan.

Woojae joined Goldman Sachs in 2012 after graduating with an MBA from the same school President Trump graduated from, Wharton.

-RW  
at 12:26:00 PM

3 comments:

  1. Paul HansenMay 31, 2018 at 2:23 PM

    I thought insider trading was in Goldman's mission statement, no?

    ReplyDelete
  2. BrindleJune 1, 2018 at 12:42 AM

    Wow, 140k? Blankfein's parking tickets for a year.

    ReplyDelete
  3. John HowardJune 5, 2018 at 4:41 PM

    So this means that up to 1% of goldman's insider traders are being caught, yes?

    ReplyDelete

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