Former Goldman Sachs Economist Admits Guilt
From Associated Press
A former Goldman Sachs & Co. economist pleaded guilty to fielding an insider bond tip that gave the firm an eight-minute edge on the market and nearly $4 million in tainted profit.
John Youngdahl, 44, of Summit, N.J., will spend about three years in prison if a federal judge accepts terms of a plea deal reached with the government.
He would also pay $240,000 to settle related charges by the Securities and Exchange Commission if the judge approves the settlement.
From Associated Press
