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Goldman Settles $350K Legal Fee Dispute With Ex-Manager
[Photo of Ex-Fed Reserve employee who leaked docs to Goldman bankers / NYPost]
Goldman Sachs agreed to settle a former executive’s claims that the investment bank wrongfully refused to pay at least $350,000 in legal fees tied to a government probe of leaked Federal Reserve documents. Details of the settlement were not made public.
Joseph Jiampietro, who had served as a Managing Director in the investment banking division, sued the bank over fees he racked up while defending himself in the investigation. No criminal charges were filed against him over the leaked documents.
The settlement comes more than a month after Goldman Sachs agreed to pay $36.3 million to settle Federal Reserve charges that the bank used information from the leaked documents in client presentations to help solicit business.
Goldman’s willingness to settle with Jiampietro stands in contrast to the bank’s handling of similar legal-fee claims filed by Sergey Aleynikov, a former computer programmer accused by the bank of stealing high-frequency-trading codes.
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September 6, 2018