Ex-Goldman Sachs employee spared jail over New York Fed leaks

A former Goldman Sachs Group Inc associate who admitted to illegally obtaining confidential documents from a friend at the Federal Reserve Bank of New York was handed a fine on Tuesday but spared a prison sentence.

Federal prosecutors in Manhattan had sought up to a year in prison for Rohit Bansal, who they said used the documents to further his career and shared some with other Goldman Sachs employees to help on bank client work.

U.S. Magistrate Judge Gabriel Gorenstein called Bansal's motivations "significantly disturbing," and said Bansal was aware the documents he obtained from Jason Gross, the New York Fed employee, were confidential.

But he said Bansal's conviction, coupled with the loss of a career, had sent a "powerful message" to others who might engage in similar conduct, and sentenced him to a $5,000 fine and two years of probation with 300 hours of community service...


No comments:

Post a Comment