Goldman Sachs VP Charged With Insider Trading

Made over $140,000 from illegal trades

Image Credits: skeeze / pixabay.

A vice president at Goldman Sachs Group Inc. was charged with securities fraud for using inside information about a dozen of the investment bank’s clients to make more than $140,000 from illegal trades with a co-conspirator in South Korea.

Woojae “Steve” Jung, a Korean citizen working at Goldman Sachs’s San Francisco office, was charged with one count of conspiracy and six counts of securities fraud for running the scam from 2015 to 2017, according to records unsealed Thursday in federal court in Manhattan.

The bank didn’t immediately have a comment when reached by phone. Goldman Sachs isn’t identified in the complaint but Jung’s LinkedIn page says he’s worked at the bank since 2012 after graduating from Wharton Business School.

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