Ex-Goldman Sachs analyst found guilty of insider dealing
CNN
A former Goldman Sachs analyst was convicted Thursday of using inside information to buy shares in listed companies and make more than 140,000 pounds ($175,650).
London — A former Goldman Sachs analyst was convicted Thursday of using inside information to buy shares in listed companies and make more than 140,000 pounds ($175,650). Mohammed Zina, 35, was employed by Goldman Sachs International, a subsidiary of the bank, in London. Prosecutors said he had used confidential information to buy shares in six companies between July 2016 and December 2017, including Arm with knowledge of the impending $32 billion acquisition of the British chip designer by SoftBank. He had pleaded not guilty to six offenses of insider dealing and three counts of fraud for allegedly lying to Tesco Bank about the purpose of loans, which prosecutors said were used to buy the shares. A spokesperson for the UK Financial Conduct Authority (FCA), which brought the prosecution, said Zina had been convicted of all nine counts following a trial at Southwark Crown Court in London. He will be sentenced on Friday. A Goldman Sachs spokesperson said: “Mohammed Zina betrayed the trust we placed in him, and his misuse of client information was in direct contradiction of our values. We have zero tolerance for this conduct.”