7 months ago
Judge rules against ex-Goldman employee in Fed leak case
An administrative judge has recommended that a former Goldman Sachs Group Inc managing director be banned from the industry for distributing confidential U.S. Federal Reserve documents within the bank to advise his clients. The ruling in the case of Joseph Jiampietro, the ex-managing director, followed investigations of how one of his subordinates at Goldman obtained leaked documents from a friend who worked at the Federal Reserve Bank of New York. In a ruling unsealed last week, Administrative Law Judge Christopher McNeil recommended the Federal Reserve Board of Governors bar Jiampietro from the banking industry and said that imposing a $337,500 penalty may be warranted.