A former McKinsey partner has plead guilty to securities fraud for bets he made forward of Goldman Sachs’ $2.2 billion acquisition of fintech lender GreenSky.
Puneet Dikshit, 40, had been charged with insider trading final month. He was accused of utilizing info gained in his function advising Goldman on the deal to place out-of-the cash name choice bets two days earlier than the acquisition was introduced, netting greater than $450,000 in beneficial properties.
“Barely a month after he was charged, Puneet Dikshit admitted in court today that he used his access to material nonpublic information about a pending acquisition of GreenSky, Inc., to trade in GreenSky call options,” Damian Williams, the United States Attorney for the Southern District of New York, mentioned Wednesday in a press release.
Dikshit plead guilty to one rely of securities fraud, which brings a most jail sentence of 20 years. He is about to be sentenced on March 30.
The case was dealt with by the Justice Department’s securities and commodities fraud job power with assist from the Federal Bureau of Investigation and the Securities and Exchange Commission.
In September, CNBC was the primary to report that suspicious trades have been made in GreenSky choices forward of the deal.
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