Goldman Sachs lawsuit reveals deep rifts in finance industry

Litigation being conducted by two of the world's largest financial institutions has revealed a deep rift in the sector. According to Bloomberg News, a former Credit Suisse executive is being accused of stealing trade secrets and sensitive information for her new employer, Goldman Sachs.

Credit Suisse, a Swiss banking company, alleged in documents filed this week in a Manhattan state court that Agostina Pechi illegally downloaded client and sales lead data before she officially vacated her position. Another component is the apparent theft of databases, which would give Goldman Sachs a significant advantage in financial markets as some of the information pertained to future planned activities. 

The story began when Pechi agreed to have her computer analyzed during an internal probe shortly after her departure when evidence emerged that she had made downloads from Credit Suisse's system. Over 60 emails that originated from her work account were discovered within her personal email box, some of which included communications with prospective clients about her future work for Goldman Sachs.

"Pechi decided to steal confidential Credit Suisse information and contacts that she had learned during the course of her employment for Credit Suisse," the company wrote in court documents. Lawyers for the firm went on to state that Pechi would have intentionally sought to disrupt Credit Suisse's business prospects by poaching clients for Goldman Sachs.

These developments highlight the murky relationships between some of the world's largest banks and investment houses, which illustrate yet another reason for regular people to pursue an independent financial life. Great Wealth Strategies can help you develop an income plan based on your individual goals and needs, such as the use of cash flow real estate to generate revenue.