Ex-Goldman Analyst Used Insider Data to Trade on ARM-Softbank Deal, FCA Says
- UK prosecutors accuse brothers of insider dealing and fraud
- Zina brothers deny the allegations and pleaded not guilty
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An ex-Goldman Sachs Group Inc. analyst bought shares in ARM Holdings Plc an hour after he received confidential information linked to Softbank Group Corp’s plan to buy the chipmaker in 2016, prosecutors told the London jury in an insider dealing trial.
Mohammed Zina used insider information while working at Goldman’s Conflicts Resolution Group to trade in six stocks, including ARM, reaping more than £140,000 ($176,860) in profit, the lawyers alleged.