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David Brown
Convicted Insider Trader; Goldman Sachs Investment Banker in the Dennis Levine Ring
Investment Banker, Goldman Sachs & Co.
Overview
David Brown was a Goldman Sachs investment banker who participated in Dennis Levine's insider trading ring during the 1980s. Brown shared nonpublic transaction details from Goldman Sachs deals with Levine, who traded on the information through secret offshore accounts. His participation meant that Goldman Sachs had two employees implicated in the scandal (Brown in the Levine ring, Robert Freeman in the Boesky network), demonstrating that even Wall Street's most prestigious firm was deeply penetrated by the corruption. Brown pleaded guilty and cooperated with prosecutors.
Key Affiliations
Controversies & Concerns
Member of Dennis Levine's insider trading ring at Goldman Sachs
Goldman Sachs had two separate employees (Brown and Robert Freeman) implicated in the scandal
Shared nonpublic deal information that was traded on through secret offshore accounts
Related Investigations (1)
Criminal Charges & Violations
1 documented violations
15 U.S.C. 78j(b), SEC Rule 10b-5Insider Trading Conspiracy: Passing material nonpublic transaction information from Goldman Sachs to Dennis Levine(Federal)
Known Associates & Connections
Dennis Levine
Ringleader of the insider trading ring
Robert Freeman
Fellow Goldman Sachs employee also convicted in the scandal (separate network)
Sources & Documentation
1 documented sources from official records, investigations, and reports
Personal Information
- Born
- Unknown
- Birthplace
- United States
Education
Key Timeline
1980-1986
Passes inside deal information from Goldman Sachs to Dennis Levine as member of insider trading ring
1986
Pleads guilty to insider trading conspiracy and cooperates with prosecutors