On April 16, the SEC charged Goldman Sachs (GS) and Vice President Fabrice Tourre, with fraud alleging the bank omitted key information about a product it peddled to hedge against housing losses. Investors subsequently lost $1 billion. Goldman Sachs has denied any wrongdoing.
“The SEC’s charges are completely unfounded in law and fact and we will vigorously contest them and defend the firm and its reputation.” - Goldman Sachs Statement, 04/16/2010
(Pictured : John Paulson, Paulson & Co Inc. and Goldman, CEO Lloyd Blankfein)
Goldman Sachs' Execs Caught Off Guard With SEC Charges
READ: SEC Complaint Against Goldman
SEC Charges Goldman Sachs With Fraud
Video: Goldman Didn't See SEC Coming (REUTERS)