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Jan. 26 (Bloomberg) -- A former Goldman Sachs Group Inc. trader and his father will pay more than $92,000 to resolve U.S. regulatory claims that they used inside information to reap profits from illegal trades related to the firm’s exchange- traded fund investments.
The Securities and Exchange Commission announced resolution of its allegations against Spencer Mindlin, 33, and Alfred Mindlin, 68, in a cease-and-desist order posted to its website today.
The two men are jointly required to pay $57,481 in disgorgement and $10,081 in interest on proceeds from the illegal trades, according to the SEC. Spencer Mindlin is to pay an additional $25,000 civil money penalty, the SEC said.
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