Ex-Goldman Sachs worker gets no prison time in NY theft case

Staff Writer
Columbus CEO

NEW YORK (AP) — A former Goldman Sachs employee who distributed Federal Reserve Bank of New York secrets to investment bank co-workers will not go to prison.

A Manhattan U.S. magistrate judge sentenced Rohit Bansal to 300 hours of community service and fined him $5,000 on Tuesday. The judge notes Bansal has been banned from his profession and his reputation is "forever besmirched." He says that should deter others.

Bansal pleaded guilty in November to a misdemeanor theft of information charge. He admitted he tried to impress his bosses at the investment bank by obtaining documents from the Federal Reserve, where he had worked for seven years.

The theft led to Goldman Sachs agreeing to pay a $50 million penalty.

Bansal says he's "profoundly sorry" for his crime.