Ex-Goldman banker admits to Fed leak

Dripping Tap

'I recognize the gravity of my mistake'.

A Goldman Sachs banker admitted violating one of the golden rules meant to protect the confidentiality of the Federal Reserve’s supervisory work from prying eyes at Wall Street banks.

Bloomberg News reports that Rohit Bansal pleaded guilty Thursday to a misdemeanor tied to stolen Fed documents that included information from the regulator about a midsize New York bank his group was advising. Jason Gross, a former employee at the Federal Reserve Bank of New York, pleaded guilty Wednesday to passing him the secret information.

'I recognize the gravity of my mistake', Bansal, 30, told U.S. Magistrate Judge Gabriel Gorenstein in Manhattan. 'I have learned from it and would like to move forward'.

Bansal faces up to 12 months in jail when he’s sentenced March 9. The Federal Reserve Board permanently barred Bansal from the banking industry after his guilty plea.

To access the complete Bloomberg News article hit the link below:

Ex-Goldman Sachs Banker Bansal Pleads Guilty Over Fed Leak

Goldman Tries Quicker Promotions to Keep Junior Bankers Happy

JefferiesAnd the Best Place to Work in the global financial markets 2016 is...

Register for Financial Markets News Alerts