Insider Trading: Like Father, Like Son, Like Goldman Sachs

The WSJ.com is reporting that Spencer D. Mindlin allegedly misused his position at Goldman Sachs to let his father, Alfred, know of some information that they used to net $57,000.

Goldman Sachs released a statement claiming that since the trades were conducted using a TD Ameritrade account they had nothing to do with it:

“All of the trading was conducted in private, undisclosed accounts held outside of Goldman Sachs and none of the trading involved client information.”

Not really the strongest defense, but I’ll leave it to the experts at Goldman Sachs to explain the intricacies of insider trading and how they are never involved.

One thought on “Insider Trading: Like Father, Like Son, Like Goldman Sachs

  1. Funny how both UBS and Goldman Sachs can’t keep track of their employees. In fairness though the gs was only $57k. Yeah, it’s a crime but not like the ubs 1.2 pounds or whatever it worked out to be.

    LM

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