Insight and Intelligence on the London & International Insurance Markets

21 May 2012

Search archive

Other articles of interest
AIG mulls lawsuit over Goldman Sachs CDO ‘fraud’
Doubts surface over AIG’s $725mn Ohio settlement
Kingsway back to black but Lincoln threat lingers
Stilwell ups stake in troubled Kingsway
Report puts FRNY in firing line over AIG bailout

Goldman Sachs to pay $550mn CDO settlement to SEC

16 July 2010

Goldman Sachs has agreed to pay $550mn to the Securities and Exchange Commission (SEC) to settle charges that it defrauded investors over the sale of subprime mortgage products that ultimately cost its customers more than $1bn.

The allegations relate to the way the investment bank structured and marketed the collateralised debt obligation (CDO) known as Abacus 2007-AC1.

Specifically, the SEC claimed that Goldman Sachs failed to disclose to potential investors the role that hedge fund Paulson & Co - which...

You are currently viewing an incomplete version of this article. If you are a subscriber then please login now. If you are a non-subscriber but would like to be able to view this article, then please select from the purchasing options below.

Purchase


Share:

Insider Publishing Limited - 2nd Floor Asia House, 31-33 Lime Street, London, EC3M 7HT, United Kingdom. The content of this website is copyright of Insider Publishing Limited 2012. All rights reserved Insider Publishing Limited actively monitors usage of our website and products and reserves the right to terminate accounts if abuse occurs.

Π