Ex-Goldman VP Gave Drunk Squash Buddy Insider Tip, Jury Hears
- Niranjan admits he committed insider trading with his friend
- Buddies smoked marijuana, partied and made $280,000 on trades
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A former Barclays Plc trader said he got an insider tip from an ex-Goldman Sachs Group Inc. vice president at a squash court after having too many drinks.
That trade netted a $2,000 profit, just a fraction of the $280,000 the two men made in illicit profits from insider trades in 2017, according to Akshay Niranjan. The former trader testified against his friend at an insider-trading trial in Manhattan Wednesday.