DIRTY MONEY

Former GOP Congressman Made Hundreds of Thousands Off Insider Trading Scheme, Feds Say

The feds charged nine people for alleged insider trading schemes, including a former investment banker who tipped off his squash pal.

Federal prosecutors charged nine people in four separate insider trading plots on Monday, including a former Indiana congressman, a one-time FBI agent-in-training, and an ex-Goldman Sachs banker. Prosecutors allege that Stephen Buyer, a Republican who represented Indiana from 1993 to 2011, traded on confidential information from two of his consulting business’ clients, earning at least $349,000. Bloomberg reported that the FBI trainee, Seth Markin, allegedly made $1.4 million after secretly rifling through his then-girlfriend’s classified work files. Brijesh Goel, who worked at Goldman for multiple years and eventually became a vice president, allegedly passed insider tips to his squash pal. Prosecutors say that the squash court companion traded based on that privileged information and shared the profits with Goel. The cases represent one of the biggest attacks on insider trading in the past 10 years.