Ex-Goldman Sachs VP Gets 3 Months For Insider Trading

Law360, New York (June 10, 2019, 8:41 PM EDT) -- A former Goldman Sachs vice president was sentenced Monday to three months in prison for using his position on the investment bank's mergers and acquisitions team to fuel an insider-trading scheme with his brother in South Korea.

Woojae "Steve" Jung, of San Francisco, previously pled guilty to one count of securities fraud. Prosecutors say Jung, 38, and his brother used a brokerage account set up in a college friend's name to conceal their trading activities, ultimately netting more than $130,000.

Prosecutors had called for Jung's sentence to fall within the advisory sentencing guidelines range of 1½ to two years in prison, while...

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