A former McKinsey & Co. partner pleaded guilty Wednesday to using inside information to profit on the acquisition of a fintech company by client Goldman Sachs Group.

Puneet Dikshit admitted to one count of securities fraud brought by the U.S. Attorney’s Office for the Southern District of New York just last month. The Department of Justice, along with the Securities and Exchange Commission (SEC), charged Dikshit with abusing his access to material nonpublic information regarding a pending acquisition of consumer loan fintech platform GreenSky by Goldman Sachs to earn nearly half a million dollars in illicit profits.

Dikshit led a McKinsey team that advised Goldman Sachs on its intention to purchase GreenSky, the SEC alleged in its complaint. As the deal was being finalized in August 2021, he began buying out-of-the-money GreenSky call options that were set to expire just days after the public announcement of the deal.

After locking in lower prices for GreenSky stock with the options, Dikshit sold the options on the day of the merger announcement and earned more than $450,000. He must surrender those profits as part of his guilty plea.

“This conduct … broke the law and violated the defendant’s duties to his firm and its client,” said U.S. Attorney Damian Williams in a Justice Department press release.

Dikshit is scheduled to be sentenced March 30, 2022. The one count of securities fraud carries a maximum sentence of 20 years in prison. He was initially charged last month with two counts of securities fraud.

The SEC’s litigation against Dikshit is ongoing.