SecondEmployees of management consulting firm McKinsey are suspected of insider trading in the United States. The consultant who advised the investment bank Goldman Sachs was responsible for using inside information about the acquisition of the financial technology platform GreenSky. According to a Bloomberg report, he was believed to have purchased options before the announcement of the acquisition on September 15 and sold these options when the stock price soared after the deal was announced. According to the prosecutor, his income is said to exceed 450,000 U.S. dollars.
McKinsey himself also talked about “frightening behavior.” The management consulting company dismissed the partner for “serious violation” of the company’s internal guidelines. According to FAZ, they have a “zero tolerance” attitude towards such behavior and will continue to cooperate with the authorities.
This case is reminiscent of the insider scandal of former McKinsey boss Rajat Gupta about 10 years ago.Gupta involved in major internal scandal after leaving McKinsey Had to go to jail for two yearsAfter working at McKinsey, Gupta worked on the board of directors of Goldman Sachs and provided hedge fund managers with confidential board information.
