By The Financial District
Feb 181 min
A former Goldman Sachs analyst was convicted by a London court of using inside information to buy shares in listed companies and make more than £140,000 ($175,650), Reuters reported.
Prosecutors said the convicted Goldman Sachs analyst had used confidential information to buy shares in six companies between July 2016 and December 2017. I Photo: Henning Klokkeråsen Flickr
Mohammed Zina, 35, was employed by Goldman Sachs International, a subsidiary of the bank, in London.
Prosecutors said he had used confidential information to buy shares in six companies between July 2016 and December 2017, including Arm, with knowledge of the impending $32 billion acquisition of the British chip designer by SoftBank, as reported by CNN.
He had pleaded not guilty to six offenses of insider dealing and three counts of fraud for allegedly lying to Tesco Bank about the purpose of loans, which prosecutors said were used to buy the shares.
A spokesperson for the UK Financial Conduct Authority, which brought the prosecution, said Zina had been convicted of all nine counts following a trial at Southwark Crown Court in London.