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Don't Believe Everything You Read In An SEC Legal Document: Ex-Goldman Employee Charged With Insider Trading By SEC

The regulator is woefully misinformed, according to Yue Han.
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Back in 2014, Goldman Sachs (NYSE: GS) hired a guy named Yue Han (also known as John Han) to work in a division of the compliance department that "developed surveillance models to identify potential risk behavior," such as insider trading. In order to do his job, Han was given access to the emails of Goldman employees who had oodles of confidential information someone looking to do a little insider trading would love to get his or her hands on. According to the Securities and Exchange Commission, Han succumbed to the siren call of all that material non-public info, and made a number of conveniently timed trades just prior to merger announcements. According to Han, the SEC doesn't know what it's talking about.

Business Insider reached out to a Yue Han on LinkedIn asking about the charges. The account lists Han as starting in November 2014 at Goldman. The SEC filing says Han started in early December of last year. Han responded with message saying "there is a lot of misunderstanding and what they sued against me is not true." "I have received the SEC's legal documents," he said. "I will have my lawyer to deal with this."

Former Goldman programmer accused of insider trading says 'there is a lot of misunderstanding' [BI]

Earlier: Guy Hired To Catch Illegal Behavior At Goldman Sachs Forgot To Catch Himself


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