Goldman Sachs analyst used inside information for profit, London court told

raptir , 7 months ago

He used an account in his brother’s name? How did they expect to get away with this? You need some degrees of separation here, c’mon.

xmunk , 7 months ago

I am shocked, shocked I tell you. Banish the thought that a finance bro would ever exploit… like everything they can.

autotldr Bot , 7 months ago

This is the best summary I could come up with:

---

Mohammed Zina, 35, who was employed by Goldman Sachs International in its conflicts resolution group in London, is accused of six offences of insider dealing relating to shares in six companies, including Arm Holdings (O9Ty.F) and Punch Taverns.

Zina is standing trial at Southwark Crown Court alongside his brother Suhail Zina, 36, who was a lawyer at law firm Clifford Chance and is accused of letting his sibling use a trading account in his name to buy and sell shares between July 2016 and December 2017.

The pair are also charged with three counts of fraud relating to loans obtained from Tesco Bank, which prosecutors say were used to buy the shares but which they said were to be for home improvements.

He told the jury that Goldman Sachs’ internal policies strictly forbid any use of confidential information acquired by the investment bank or its employees.

“To breach a confidence or to use confidential information improperly or carelessly would be unthinkable,” the policy says.

Carter said the policy was clear that employees are not allowed to use confidential information “other than for your work at (Goldman Sachs) and nothing else”.

---

The original article contains 304 words, the summary contains 190 words. Saved 38%. I’m a bot and I’m open source!