The Federal Reserve Board on Thursday permanently barred Rohit Bansal, a former investment banker at Goldman Sachs & Co., from participating in the banking industry following his guilty plea for misdemeanor theft of confidential information from the Federal Reserve. Bansal agreed to enter into a consent order with the Federal Reserve Board barring him from the banking industry and requiring him to cooperate in the Board's ongoing investigation.
Bansal had obtained confidential information from Jason Gross, a former employee of the Federal Reserve Bank of New York. On Wednesday, Gross also pled guilty to misdemeanor theft of confidential information of the Federal Reserve. As part of Gross's plea agreement, Gross is barred from participating in the affairs of any insured depository institution.
The Federal Reserve Bank of New York terminated Gross in October 2014 and referred the matter for investigation to the U.S. Attorney's Office for the Southern District of New York and has been cooperating with prosecutors during the course of their investigation.
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