Ex-Goldman analyst accused of making £351k from illegal insider trading deals
America’s financial watchdog has accused a former Goldman Sachs analyst of making hundreds of thousands of dollars from insider trading.
The Securities and Exchange Commission (SEC) said Jose Luis Casero Sanchez, 35, had used his role at the Wall Street titan to learn confidential information about Goldman’s clients.
He then made illegal trades, according to the SEC, using brokerage accounts opened in his parents’ names.
The US Securities and Exchange Commission said Jose Luis Casero Sanchez, 35, had used his role at Goldman Sachs to learn confidential information about its clients
He traded at least 45 times from September 2020 until his resignation in May this year, reaping nearly £351,000.
Sanchez worked for Goldman in Poland, as a senior compliance analyst. Part of his job involved being in a ‘control room’ that tracked pending mergers and other deals, where he mined the confidential information.
Goldman said: ‘We condemn this egregious behaviour. We are fully cooperating with the SEC.’
The regulator is also looking to freeze the assets of Sanchez and his parents, who are believed to be living in Spain. Goldman interviewed him in late May about suspicious activity, the SEC’s filing said.