Brijesh Goel, 39, has been sentenced to 36 months in prison on charges of insider trading and obstruction of justice by U.S. District Judge P. Kevin Castel, the U.S. Attorney’s Office for the Southern District of New York said Thursday. Goel was charged with making illegal profits of $280,000 in 2017 and 2018 while he was an investment banker at Goldman Sachs Group Inc. GS, +1.
05% by leaking word of potential merger financing deals that the bank was working on to another banker at another firm that he met at the New York Health and Racquet Club. He was charged with deleting and asking his banker friend, Akshay Niranjan, to erase text messages about the insider trading. He was ordered to forfeit $85,000 and pay a $75,000 fine. A restitution amount to be paid to Goldman Sachs will be determined at a future date.
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