Goldman sued by former banker over legal fees

Email Simon Stratford

Goldman Sachs was sued by a former executive who claims the bank failed to pay at least $350,000 in legal fees he racked up while defending himself in a government investigation into stolen Federal Reserve documents that wound up in his e-mail in-box.

Bloomberg News reports that Joseph Jiampietro, a onetime managing director at the company’s investment banking division, was fired in 2014 for failing to tell his superiors that an associate who used to work at the Fed e-mailed secret central bank documents to him, according to a complaint filed Thursday in Wilmington, Delaware.

Jiampietro maintains he was a Goldman Sachs officer at the time of the government investigation and was therefore entitled to have his attorney fees and expenses paid by the bank as outlined in its by-laws. The federal probe didn’t result in any charges against Jiampietro.

The case may hinge on how a judge interprets Jiampietro’s title of managing director. The same Delaware court this month ruled Goldman Sachs wasn’t required to pay the legal fees of Sergey Aleynikov, a former programmer accused of stealing the investment bank’s computer-trading code, simply because his title was vice president.

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

Goldman Sachs Sued by Ex-Manager Over Fed Secrets Leak Probe

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