A former Neuberger Berman
analyst testified yesterday in one of the insider trading cases encircling billionaire Steven Cohen's SAC Capital Advisors
In January 2012 Sandeep Goyal left
Neuberger and pled guilty in a $78-million insider trading case involving information about Dell and Nvidia. The SEC accused Goyal of receiving $175,000 for passing along inside information on Dell. Neuberger was not accused of any wrongdoing in the probe. Yesterday, Bloomberg
and Reuters report
, Goyal testified in federal court in New York City that he passed inside Dell information to ex-Diamondback Capital Management
analyst Jesse Tortora
, tips that prosecutors say were passed along to SAC PM Michael Steinberg
Goyal said he got the inside information on Dell thanks to an acquaintance from business school who worked at Dell.
"He wanted to work in the investment management industry," Goyal reportedly testified. "I helped him with his resume and gave him interview tips and gave him feedback on people he was interviewing with."
Neil Anderson, Managing Editor
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