by millionairemind » Mon May 10, 2010 3:23 pm
Goldman Sachs faces $1bn fine to draw line under fraud trial
Goldman Sachs could end up paying a $1bn (£670m) fine to settle the case involving alleged fraud brought against the US investment bank by the Securities and Exchange Commission, according to well-placed US sources.By Roland Gribben
Published: 8:52PM BST 09 May 2010
Moves to reach a settlement to avoid a lengthy legal battle are at an early stage but all the signs point to the SEC demanding a high price to wind up the damaging case.
Goldman Sachs refused to comment on the prospects of a deal with the SEC but reports circulating in the US suggest the bank will be willing to pay a penalty on a lesser charge and a recognition that there was no wrongdoing.
http://www.telegraph.co.uk/finance/news ... trial.html
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