One of the former top managers at Goldman Sachs Bryan Cohen admitted that he had been involved in conspiracy. We are talking about insider trading and fraud with valuable assets.
Manhattan prosecutors accuse former Goldman vice president and five others of fraudulent transactions. Mr. Cohen was accused on 5 points. Before the trial scheduled for February, he took the blame regarding one of them.
According to Cohen’s lawyer Benjamin Brafman, his client will be able to avoid trial if he comes up with the confession. As a French citizen, he can be deported from the United States.
Cohen initially worked at the Goldman office in London. In 2017, he moved to New York. According to the prosecutor’s office, from 2015 to 2017, he stole and passed secret information regarding future transactions to a Swiss trader. And in return he got substantial compensation for this.
Not only Cohen is accused of insider trading. A couple of months ago, authorities also accused two investment bankers – Benjamin Taylor from the investment banking firm Moelis and Darina Windsor from the boutique investment bank Centerview Partners. Prosecutors believe that they conducted fraudulent transactions and were involved in a large-scale scheme for millions of dollars.
The material was prepared with the participation of Katya Wilson,
a leading analyst of the brokerage company UFT Group