Goldman Sachs banker charged with insider trading

A Goldman Sachs vice president stole confidential information and reaped more than $143,000 in an illicit insider trading scheme, according to criminal charges unsealed in Manhattan federal court Thursday.

Woojae Jung, a San Francisco-based investment banker who worked with technology companies, set up a secret brokerage account in a South Korean family member’s name in order to disguise trades in 12 companies, including SanDisk and WebMD.com, according to charges filed by the Justice Department.

Jung, who goes by Steve, made over 600 illicit trades from 2015 to 2017 in the scheme, according to a parallel civil suit filed by the Securities and Exchange Commission.

“As alleged, Woojae Jung violated his duty to his company and traded on stolen insider information, over and over again,” Manhattan US Attorney Geoffrey Berman said in a statement.

Jung was arrested in San Francisco on Thursday morning, Nicholas Biase, a spokesman for the Manhattan US attorney’s office, told The Post.

Goldman has since put Jung on leave, Michael DuVally, a Goldman spokesman, told The Post.

“We are aware of this situation regarding Mr. Jung and are cooperating with legal authorities on the matter,” he said.