Description: New York City, New York criminal defense lawyer represented the Defendant charged with insider trading and obstruction of justice.

Brijesh Goel was an investment banker at Goldman Sachs in New York, New York. In that position, GOEL received confidential internal emails directed to Goldman Sachs’ Firmwide Capital Committee and Credit Markets Capital Committee, which contained detailed information and analysis about potential merger-and-acquisition transactions that Goldman Sachs was considering financing. In violation of the duties that he owed to Goldman Sachs, GOEL misappropriated that confidential information and tipped a friend, Akshay Niranjan, who worked at another investment bank in New York, New York, with the names of potential target companies from those internal emails during in-person meetings such as when the two met at the New York Health and Racquet Club. Niranjan then used that confidential information to trade call options, including short-dated, out-of-the-money call options, in brokerage accounts that were in the name of Niranjan’s brother. GOEL and Niranjan agreed to split the profits from their trading. Between approximately 2017 and 2018, GOEL tipped Niranjan on at least six deals in which Goldman Sachs was involved, yielding total illegal profits of approximately $280,000.

Between approximately May and June 2022, GOEL also obstructed investigations by a grand jury in the Southern District of New York and the U.S. Securities and Exchange Commission (“SEC”). Specifically, GOEL deleted and asked Niranjan to delete text messages regarding the insider trading scheme, including during an in-person meeting that Niranjan consensually recorded.

* * *

In addition to the prison sentence, GOEL, 39, of New York, New York, was sentenced to three years’ supervised release and ordered to forfeit $85,000 and a restitution in an amount to be determined at a future date to Goldman Sachs. GOEL was also ordered to pay a $75,000 fine.

Mr. Williams praised the outstanding work of the Federal Bureau of Investigation. Mr. Williams further thanked the SEC and the Financial Industry Regulatory Authority for their assistance and cooperation.

This case is being handled by the Office’s Securities and Commodities Fraud Task Force. Assistant U. S. Attorneys Samuel P. Rothschild and Andrew Thomas are in charge of the prosecution.

18:371.F CONSPIRACY TO COMMIT SECURITIES FRAUD AND TENDER OFFER FRAUD
(1)
15:78J.F SECURITIES FRAUD
(2-4)
18:1348.F SECURITIES FRAUD
(5)
18:1519.F OBSTRUCTION OF JUSTICE
(6)

Outcome: Defendant was sentenced to 36 months in prison.

11/01/2023 122 LETTER by USA as to Brijesh Goel addressed to Judge P. Kevin Castel from AUSA Samuel P. Rothschild dated November 1, 2023 re: Documents supporting Goldman's restitution claim Document filed by USA. (Attachments: # 1 Exhibit Ex A - Goldman Docs - Part 1, # 2 Exhibit Ex A - Goldman Docs - Part 2)(Rothschild, Samuel) (Entered: 11/01/2023)
11/01/2023 Minute Entry for proceedings held before Judge P. Kevin Castel: Sentencing held on 11/1/2023 for Brijesh Goel (1) Count 1,2-4,5,6. Defendant is present with attorneys, Reed Brodsky, Adam Ford, Anjula Prasad. AUSA, Samuel Rothschild, Andrew Thomas, present. FBI Matthew Mahaffey, FBI Marc Troiano. Court Reporter: Sadie Herbert. Defendant is sentenced on Counts 1, 2, 3, 4, 5, and 6 to 36 months imprisonment, 3 years supervised release, the fine of $75,000, restitution to be submitted within 45 days, forfeiture in the amount of $85,000, and a special assessment of $600. Surrender Date: January 9, 2024 at 2:00 p.m. Jury found defendant guilty on Counts 1, 2, 3, 4, 5, and 6. (jbo) (Entered: 11/01/2023)
11/01/2023 123 PRELIMINARY ORDER OF FORFEITURE/MONEY JUDGMENT as to Brijesh Goel. NOW THEREFORE, IT IS ORDERED, ADJUDGED AND DECREED THAT As a result of the offenses charged in Counts One through Five of the Indictment, of which the Defendant was found guilty, a money judgment in the amount of $85,000 in United States currency (the "Money Judgment"), representing the amount of proceeds traceable to the offenses charged in Counts One through Five of the Indictment that the Defendant personally obtained, for which the Defendant is jointly and severally liable with his co-defendant, Akshay Niranjan, to the extent a forfeiture money judgment is entered against Akshay Niranjan in this case, shall be entered against the Defendant. Pursuant to Rule 32.2(b )( 4) of the Federal Rules of Criminal Procedure, this Preliminary Order of Forfeiture/Money Judgment is final as to the Defendant, BRIJESH GOEL, and shall be deemed part of the sentence of the Defendant, and shall be included in the judgment of conviction therewith. (Signed by Judge P. Kevin Castel on 11/1/23)(jw) (Entered: 11/01/2023)

Plaintiff's Experts:

Defendant's Experts:

Comments: