Ex-Goldman Sachs investment banker convicted of insider trading charges

New York –

A former Goldman Sachs funding banker was convicted of insider buying and selling costs Wednesday after a weeklong trial.

Brijesh Goel, 38, of Manhattan, was convicted in Manhattan federal court docket of securities fraud, conspiracy and obstruction of justice by a jury that deliberated lower than a day earlier than concluding he had shared secrets and techniques about doubtless merger-and-acquisition transactions that Goldman Sachs was contemplating financing.

Sentencing was set for Oct. 19.

Prosecutors stated Goel labored in Manhattan on the funding financial institution when he shared details about potential merger and acquisition offers with a good friend who labored at one other funding financial institution in Manhattan.

Goel and the good friend agreed to separate earnings from their unlawful buying and selling, which amounted to about $280,000, prosecutors stated.

Prosecutors stated Goel obstructed justice by deleting digital communications concerning the insider buying and selling scheme as a grand jury and the U.S. Securities and Exchange Commission investigated.

Attorneys for Goel didn’t instantly return messages looking for remark.