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Brijesh Goel Named in SEC Complaint Alleging Insider Trading

Sep 14, 2022 Regulatory Action

Brijesh Goel (CRD #: 6187078), a broker formerly registered with Goldman Sachs & Company, is named in a pending SEC complaint, according to his BrokerCheck record, accessed on August 26, 2022. If you have questions about Brijesh Goel’s conduct as a broker, keep reading.

SEC Complaint

On July 25, 2022, the Securities and Exchange Commission filed a civil complaint against Brijesh Goel and Akshay Niranjan, alleging that they earned approximately $291,735 through an insider trading scheme.

According to the complaint, Brijesh Goel allegedly received material nonpublic information regarding corporate acquisition transactions as part of his position at Goldman Sachs. He allegedly used this information to tip off close friend and foreign exchange trader Akshay Niranjan about at least four of these upcoming acquisitions.

The SEC alleges that Akshay Niranjan used these tips to trade call options for companies including Lumos Networks Corp., Patheon N.V., PharMerica Corporation, and Calgon Carbon Corporation. 

Further, Akshay Niranjan allegedly sold, exercised, or assigned these options contracts once these acquisitions were publically announced, then divided the profits with Brijesh Goel.

The SEC alleges that Brijesh Goel violated Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5 thereunder. This complaint is currently pending.

Securities Exchange Act of 1934

Section 10(b) of the Securities Exchange Act of 1934 prohibits deceptive, manipulative,  and otherwise fraudulent practices in the course of buying or selling securities. Within this section, Rule 10b-5 forbids the use of fraudulent schemes, untrue statements, and omissions of fact to mislead investors.

Background Information

Brijesh Goel has passed the following exams:

  • Series 63 – Uniform Securities Agent State Law Examination
  • SIE – Securities Industry Essentials Examination
  • Series 79 – Investment Banking Registered Representative Examination

He previously worked for Goldman Sachs & Company (CRD#:361).

Kurta Law Can Help

If you worked with Brijesh Goel and you have concerns about your investments, please contact us today at 877-600-0098 or info@kurtalawfirm.com for a free consultation.

For over 20 years, Kurta Law has advocated on behalf of investors who want to recover their investment losses from brokers and brokerage firms. Kurta Law is a nationally recognized law firm and exclusively represents investors against brokers and brokerage firms on a contingency basis. This means that the firm only earns a fee if our securities attorneys recover money on your behalf.