'Burner' phones and Ariad secrets: Goldman Sachs banker pleads guilty for his role in global insider trading ring
A former Goldman Sachs banker has pleaded guilty to conspiring to commit securities fraud as another member of the global biotech insider trader ring stands trial in Manhattan.
Bryan Cohen admitted to stealing material, non-public information from the investment bank about corporate acquisitions, some of them related to companies listed on US exchanges. But unlike Telemaque Lavidas, who allegedly fed information about Ariad to New York businessman George Nikas, Cohen turned his intel over to “a securities trader based in Switzerland,” providing updates about how the deals were progressing over time.
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