Goldman in $5.1 bn deal to settle mortgage bond fraud claims

GMT 06:59 2016 Friday ,15 January

Arab Today, arab today Goldman in $5.1 bn deal to settle mortgage bond fraud claims

New York economy
New York - Arab Today

Goldman Sachs said Thursday that it had reached a $5.1 billion deal with US and state authorities to settle allegations related to fraudulent marketing of mortgage bonds before the financial crisis.

The Wall Street investment bank said it would pay a civil penalty of $2.4 billion to settle with the authorities, as well as payments of $875 million and $1.8 billion in consumer relief.

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