Ex-Goldman Sachs analyst found guilty of insider dealing

London — A former Goldman Sachs analyst was convicted Thursday of using inside information to buy shares in listed companies and make more than 140,000 pounds ($175,650).

Mohammed Zina, 35, was employed by Goldman Sachs International, a subsidiary of the bank, in London.

Prosecutors said he had used confidential information to buy shares in six companies between July 2016 and December 2017, including Arm with knowledge of the impending $32 billion acquisition of the British chip designer by SoftBank.

He had pleaded not guilty to six offenses of insider dealing and three counts of fraud for allegedly lying to Tesco Bank about the purpose of loans, which prosecutors said were used to buy the shares.

A spokesperson for the UK Financial Conduct Authority, which brought the prosecution, said Zina had been convicted of all nine counts following a trial at Southwark Crown Court in London. He will be sentenced on Friday.

His brother Suhail Zina, formerly an associate at law firm Clifford Chance, had also stood trial but was cleared of all nine charges at the direction of the judge on February 5.

Prosecutor Peter Carter told jurors at the start of the trial that Mohammed Zina had used “private, confidential, price-sensitive information” to invest on the stock exchange.

He said the internal policies of Goldman Sachs strictly forbid any use of confidential information acquired by the Investment bank or its employees.