(Reuters) – A co-owner of consulting firm McKinsey was indicted on Wednesday for insider trading before Goldman Sachs Group Inc.'s deal to buy fintech lender GreenSky Inc. for $ 2.24 billion, U.S. prosecutors said.
Puneet. Dikshit, from Manhattan, faces two cases of securities fraud after generating about $ 450,000 in profits from 2,500 GreenSky call options he bought in the two days before the merger was announced on September 15.
Authorities said Mr. Dikshit led McKinsey's lending operations in North America and had been a leading partner advising Goldman. The U.S. Securities and Exchange Commission filed related civil lawsuits.
Lawyers for Mr. Dikshit did not immediately respond to requests for comment following the defendant's arrest on Wednesday.
McKinsey said they fired Mr. Dikshit for "a gross violation". of our policies and code of conduct. We have zero tolerance for the frightening behavior described in the complaint and we will continue to cooperate with the authorities. ”
GreenSky is a specialist lender that arranges consumer loans for large one-off purchases such as home renovations, cosmetic surgery and dental implants.
Its share price rose by 53% on the same day as the merger was announced and had been volatile the previous three trading days, when options trading was particularly busy. them shortly after the merger was announced.