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Former Goldman banker, ex-FBI intern charged with insider trading



(Reuters) – A former Goldman Sachs banker, a former FBI agent trainee, a technology executive and others were charged on Monday with insider trading in separate schemes that together generated millions of dollars in profits, U.S. prosecutors said.

“Every one of the defendants indicted today corrupted the integrity of the markets,” Damian Williams, the top federal prosecutor in Manhattan and one of Wall Street’s top cops, told reporters.

The US Securities and Exchange Commission brought related civil charges for the various trading schemes.

Among those charged was former Goldman vice president Brijesh Goel, who faces six counts of securities fraud and obstruction of justice for providing a co-conspirator with non-public information about potential mergers and acquisitions beginning in February 201

7.

The co-conspirator, identified by the SEC as Goel’s friend Akshay Niranjan, used the tips to trade securities of some of the companies targeted for the deal — including Spirit Airlines Inc. and drugmaker Patheon — and shared $280,000 in profits with Goel, prosecutors said. said.

Prosecutors also charged Seth Markin, the former FBI intern, with insider trading for buying stock in Pandion Therapeutics Inc. ahead of a February 2021 tender offer for the company from Merck & Co.

Markin allegedly learned of the affair by reviewing documents belonging to his then-romantic partner, who worked at a law firm representing Merck.

In a third case, prosecutors said Amit Bhardwaj, a former executive at laser specialist Lumentum Holdings Inc., last fall bought shares in Coherent Inc. after learning that Lumentum planned to acquire the company.

Lawyers for Goel, Markin and Bhardwaj did not immediately respond to requests for comment.

Prosecutors separately announced charges against former U.S. Rep. Stephen Buyer for insider trading in a major telecom tie-up.


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