(Reuters) – A US regulator on Wednesday indicted a former Goldman Sachs Group Inc insider trading analyst and said he was doing illegal business involving bank customers while working in Warsaw, Poland.
The US Securities and Exchange Commission said Jose Luis Casero Sanchez, 35, from Spain, learned material non-public information about his employer's clients through his work in a "control room" that tracked ongoing mergers, acquisitions and financing.
Mr. Casero's information included an update to the bank's confidential "gray list," which tracked customers involved in such transactions, according to an SEC complaint filed with the U.S. District Court in Manhattan. & # 39; name to trade before significant transactions at least 45 times from September 2020 to his departure in May 2021, reaping nearly $ 472,000 in profits.
At least nine of Casero's deals related to mergers with specialty companies, the SEC said.
Wednesday's lawsuit does not identify Goldman by name, but identified Goldman customers in whose shares Casero is alleged to have traded.
"We condemn this gross misconduct, which violates our standards of conduct and business principles," Goldman said in a statement. "We cooperate fully with the SEC."
Mr. Casero did not immediately respond to a request for comment. A lawyer for him could not be immediately identified.
The SEC also calls for a freeze on assets against Casero and his parents, who are both "aid defendants". It was stated that all three are Spanish citizens who are believed to have lived in Granada.
According to LinkedIn, Casero worked for UBS Group AG from February 2018 to April 2019 before joining Goldman. He has not worked at UBS since, said a person close to the matter, although LinkedIn said he is "currently" employed there.