Swiss Trader's Trial Testimony Prompts Goldman Sachs Probe

Law360, New York (January 9, 2020, 12:27 PM EST) -- Goldman Sachs has opened a compliance investigation into one of its veteran bankers, the bank said Thursday, after a Swiss trader-turned-government witness told a Manhattan jury that he stole mining-sector merger secrets from the banker while he dated her in London in 2010.

The megabank confirmed the investigation to Law360 in the wake of testimony by cooperator Marc Demane-Debih, a jailed trader who testified Wednesday against insider-trading suspect Telemaque Lavidas at a trial being overseen by U.S. District Judge Denise L. Cote.

During that testimony, Demane-Debih named more than a dozen names of businesspeople, traders, bankers, journalists and other associates and...

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