Former Goldman Sachs Banker, Brijesh Goel, Sentenced to Three Years for Insider Trading and Obstruction of Justice

The insider trading scheme netted the duo $280,000 and involved passing tips during squash games using coded language; Goel also faces a $75,000 fine and restitution to the bank, while his accomplice Akshay Niranjan, who cooperated with law enforcement, avoided charges.

• Former Goldman Sachs banker Brijesh Goel has been sentenced to a three-year prison term after a seven-day trial for insider trading, with a subsequent three-year period of supervised release. This sentence is six months less than what prosecutors had asked for.
• Goel and his accomplice, Akshay Niranjan, netted a combined $280,000 in profits from the insider trading scheme which involved passing tips about potential mergers during squash games using a coded language.
• In addition to the prison term, Goel is also required to pay a $75,000 fine within 45 days and make restitution to Goldman Sachs, with the investment bank seeking $390,000. The final sum will be determined at a later date.
• Contrary to Goel, Niranjan fully cooperated with law enforcement during the investigation, leading to him avoiding charges. At the trial, Niranjan testified against Goel, telling the court that Goel had asked him to delete texts regarding the stock tips.
• Despite facing jail time and financial penalties, Goel's sentence pales in comparison to his prior earning potential: top-performing VPs at Goldman Sachs can earn over $800,000 in a good year.

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