Goldman Sachs manager investigated in inside-trading probe

1 March 2012

A managing director at Goldman Sachs is being investigated as part of an insider-trading probe.

According to a source with knowledge on the matter, David Loeb's actions relating to the company's hedge fund clients are going to be placed under the spotlight, Reuters reports.

Henry King, an analyst based in Asia, is a hedge fund employee and is also being looked at, a second person familiar with the matter explained.

However, a spokesman for Goldman Sachs - founded in 1869 - declined to comment on the subject, with Mr Loeb and Mr King failing to respond to comment requests from Reuters.

Although there have not been any accusations of wrongdoing at the financial institute, an annual filing from the lender - featuring the item Insider Trading Investigations - with the US Securities and Exchange Commission was included.

This did not appear on those filed a year earlier and read: "From time to time, the firm and its employees are the subject of or otherwise involved in regulatory investigations relating to insider trading."

By Gary Cooper

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