Goldman coughs up $550 million to settle fraud case

By Andy Rice 16 July 2010

Goldman Sachs has paid $550 million to make charges brought against it by the US Securities and Exchange Commission go away. The charges relate to alleged mortgage securities fraud conducted in 2007. It is the largest settlement of this nature in US history. Under the terms of the deal, $300 million will be a fine that will go to the Treasury, and $250 million will be paid out to investors in the dodgy securities. Read more: Politico

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