Ex-Gold­man Sachs banker gets pro­ba­tion over Fed leak

The Pak Banker - - COMPANIES/BOSS -

An ex-Gold­man Sachs Group Inc. banker who got a for­mer col­league to steal doc­u­ments from theFed­eral Re­serve Bank of New York was sen­tenced to two years' pro­ba­tion af­ter a judge said he'd al­ready been pun­ished enough by hav­ing his rep­u­ta­tion trashed on the In­ter­net. Ro­hit Bansal, who pros­e­cu­tors said should get as long as a year in prison, pleaded guilty last year to a mis­de­meanor for ob­tain­ing about 35 doc­u­ments on about 20 oc­ca­sions from his friend Ja­son Gross, who was em­ployed at the New York Fed. The case was first dis­closed in a set­tle­ment last year be­tween New York-based Gold­man Sachs and the New York Depart­ment of Fi­nan­cial Ser­vices.

U.S. Mag­is­trate Judge Gabriel Goren­stein said Bansal's "self­ish mo­ti­va­tion is a sig­nif­i­cant dis­turb­ing as­pect of the case," but he added that the doc­u­ments Bansal ob­tained were "es­sen­tially in­nocu­ous."

"Be­cause of the power of the In­ter­net, his rep­u­ta­tion is for­ever al­ready be­smirched," Goren­stein said at a sen­tenc­ing hear­ing in Man­hat­tan fed­eral court. Send­ing Bansal to prison wouldn't serve any pur­pose when the In­ter­net would for­ever link him to his crimes and sub­se­quent fir­ing by Gold­man, the judge said.

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