Some truly bizarre news out of the white collar crime docket this afternoon...
Federal prosecutors on Thursday accused a Goldman Sachs investment banker in San Francisco of insider trading, alleging that Woojae Jung used confidential information to trade in a dozen stocks over three years.
Prosecutors said he earned illicit profits of just over $130,000.
Yeah, we couldn't believe it either.
Somehow, a guy that managed to make VP at Goldman Sachs only managed to pull down $130K in three years while trading on his own M&A deals. And not only that, according to his LinkedIn page, Jung also worked at McKinsey and has an MBA from Wharton.
$130K?! For three years of cheating?!
We are embarrassed for everyone involved.