Friday, April 16, 2010
Breaking News: SEC charges Goldman Sachs with securities fraud
Date: Fri, 16 Apr 2010 09:02:16 -0600
WASHINGTON (AP) - The federal government is accusing Wall Street
powerhouse Goldman Sachs & Co. of defrauding investors in its
disclosures about securities it sold that were tied to subprime
mortgages as the housing market was faltering. The Securities and
Exchange Commission announced Friday civil fraud charges against
Goldman Sachs and one of its vice presidents. The agency alleges that
the company marketed complex subprime mortgage securities and failed
to disclose to investors that a major hedge fund had bet against the
securities.
