After Confidential Fed Documents Used In Sales Presentation, Former Goldman Managing Director Fined, Banned From Industry

Goldman Sachs has settled a confidential leak investigation case with the Federal Reserve Bank of New York, agreeing to pay a $36.3 million fine. The New York Fed fined and permanently barred former Goldman Sachs Managing Director Joseph Jiampietro from the industry. Jiampietro was the supervisor of an employee who obtained Federal Reserve secrets and used them to the bank’s benefit in sales presentations to solicit new clients. Goldman employee boldly used confidential Fed data in sales presentations The Fed charges stated that “a Firm employee engaged in the criminal theft of confidential supervisory information of the Board of Governors and other…