Goldman Sachs VP charged with insider trading

Goldman Sachs has garnered the headlines for the wrong reason as its vice president has been charged with insider trading by the US Securities and Exchange Commission.

The charges were levied on Thursday. In a complaint filed in Manhattan federal court, the SEC said Woojae Jung, 37, used confidential information to trade in the securities of 12 companies that were advised by the investment bank, making an illegal profit of more than $140,000.