New York Fed leaks – ex-Goldman Sachs employee, spared jail – March 23rd 2016

A former Goldman Sachs Group Inc GS.N associate who admitted to illegally obtaining confidential documents from a friend at the Federal Reserve Bank of New York was handed a fine on Tuesday but spared a prison sentence. Federal prosecutors in Manhattan had sought up to a year in prison for Rohit Bansal, who they said used the documents to further his career and shared some with other Goldman Sachs employees to help on bank client work. U.S. Magistrate Judge Gabriel Gorenstein called Bansal’s motivations “significantly disturbing,” and said Bansal was aware the documents he obtained from Jason Gross, the New York Fed employee, were confidential. Gross, 37, pleaded guilty in November to a misdemeanor charge. He was fined $2,000 by Gorenstein last week and sentenced to a year of probation with 200 hours of community service.

Full article; Mar 23 2016 Nate Reymond, Reuters