Goldman manager investigated for insider trading role: report
March 1, 2012 3:14 AM EST
Federal authorities are investigating David Loeb, a managing director of Goldman Sachs Group Inc, as part of an insider trading probe focusing on technology stocks and the company's hedge fund clients, the Wall Street Journal reported on Wednesday, citing people close to the matter.
Loeb, 41, would be the latest Goldman official to be investigated after Rajat Gupta, a former Goldman director, who faces trial in May for insider trading. Goldman technology analyst Henry King is also under investigation, the WSJ reported.
Loeb, who deals with many technology hedge fund employees, worked closely with King, the paper said citing the sources. Documents filed in the case against Gupta referenced an insider at Goldman other than Gupta who provided inside information to a hedge fund client. That person is said to be Loeb, the WSJ reported.
On Monday during a press briefing, the FBI said to date, out of 64 arrests made in "Perfect Hedge," the name given to the investigation, 59 people have been convicted or have pleaded guilty.
(Reporting by Eileen Anupa Soreng in Bangalore; Editing by Matt Driskill)
Join the Conversation
- Tourre on stand says email in SEC case 'not accurate'
- Syrian authorities blocking access to needy in Homs - Red Cross
- Faith in European Union at low ebb, EU poll says
- Former UBS banker gets 18 months, $1 million fine, for muni bid-rigging scheme
- U.S. judge halts challenges to Detroit's bankruptcy bid