Former Goldman Sachs UK analyst arrested for insider trading after London probe – TradingView News

Former Goldman Sachs UK analyst arrested for insider trading after London probe – TradingView News

Former Goldman Sachs analyst GS He was jailed for 22 months on Friday after being found guilty in a London court of using insider information to buy shares in listed companies and make more than £140,000 ($175,650) in profits.

Muhammad Zina, 35, was hired by Goldman Sachs International in its conflict resolution team in London.

Prosecutors said he used confidential information to buy shares in six companies between July 2016 and December 2017, including chip designer Arm Holdings. ARM Knowledge of SoftBank Group's imminent $32 billion acquisition 9984 (Link).

Gina allegedly earned another £15,000, but was arrested before she could sell her stake in snacks maker Snyders-Lance Inc, prosecutors said.

He pleaded not guilty to six counts of insider trading and three counts of fraud for allegedly lying to Tesco Bank about the purpose of the loans used to buy the shares.

But following a trial at Southwark Crown Court on Thursday, Gina was convicted of all nine charges (link).


Judge Tony Baumgartner sentenced him to 22 months in prison: “You betrayed your employer's trust, as well as defrauded honest investors in the stocks you traded using information you saw at work.

“What you have done strikes at the heart of our financial markets and the public trust in them.”

He added: “You have thrown away what was undoubtedly a promising career in banking, a dream for many young people and in favor of easy income.”

The judge scheduled a new trial in September to address the prosecution's request to confiscate Gina's profits.

A Goldman Sachs spokesman said: “Mohammed Zina betrayed the trust we placed in him, and his misuse of client information is in direct contrast to our values. We do not tolerate this behavior.”

See also  Computer failure affects "e-gates" and creates long lines at UK airports - travel and leisure

Mohammad Zina's lawyer declined to comment after the sentencing.

His brother Suhail Jinnah, a former partner at law firm Clifford Chance, also stood trial but was cleared of nine charges (link). Clifford Chance declined to comment.

On Friday, Gina's lawyer, Brendan Kelly, told the court that she was the youngest member of the conflict resolution team and was jailed six years ago, so she was “enduring these processes”.

“Both the stigma and impact of the conviction and prison sentence will have a very significant impact on this young man of relatively exemplary character,” Kelly said.

You May Also Like

About the Author: Morton Obrien

"Reader. Infuriatingly humble travel enthusiast. Extreme food scholar. Writer. Communicator."

Leave a Reply

Your email address will not be published. Required fields are marked *