Criminal probe into Goldman Sachs trading

Posted By: Samyuktha
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New York, Apr 30: Weeks after the US market regulator sued Golman Sachs for fraud, it has been reported that US federal prosecutors have begun criminal probe into the trading of the investment bank.

According to a report on the website of Wall Street Journal, the prosecutors are conducting a criminal probe into whether Goldman Sachs Group Inc or its employees committed securities fraud in connection with its mortgage trading.

While the office of the Manhattan US Attorney has neither confirmed or denied the report, Goldman Sachs was not available to comment.

US market regulator, Securities and Exchange Commission (SEC) on Apr 16 charged Goldman Sachs with “defrauding investors by misstating and omitting key facts about a financial product tied to subprime mortgages," in the run up to the 2008 financial crisis derailing the global economy.

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