MANHATTAN (CN) – A federal jury on Friday convicted former Ernst & Young partner James Gansman, an attorney, of passing inside information to investment banker Donna Murdoch, who reaped more than $300,000 from it. Murdoch already pleaded guilty and testified at Gansman’s trial, in which he was found guilty on six of 10 counts.
Gansman obtained the inside information from Ernst & Young’s work advising companies on mergers and acquisitions. He was the partner in charge of human resources consulting that Ernst & Young provided for the deals, prosecutors said.
Gansman, 48, of New York, N.Y., faces up to 20 years in prison and a $5 million fine on each count at his Oct. 1 sentencing.