Business

Report: Goldman Sachs VP Charged With Insider Trading

/ CBS New York

NEW YORK (CBSNewYork) - A Goldman Sachs vice president has reportedly been charged in a Manhattan court with securities fraud.

Bloomberg News reports that Steve Woojae Jung, a vice president at Goldman Sachs office in San Francisco, has been charged with securities fraud for using inside information about a dozen investment bank's clients to gain more than $140,000 from trades with a partner in South Korea.

Jung's LinkedIn page says he has worked for Sachs since 2012 and was named a vice president in 2015.

Bloomberg reports Jung faces one count of conspiracy and six counts of securities fraud, according to records unsealed Thursday.

First published on May 31, 2018 / 12:24 PM EDT

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