The New York Times
Thu, July 15, 2010 -- 4:23 PM ET
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Goldman Sachs to Settle Securities Claim for $550 Million, a Person Close to the Deal Says
Goldman Sachs has agreed to pay $550 million to the
Securities and Exchange Commission to settle charges of
securities fraud linked to mortgage investments sold to
investors, a person briefed on the matter told The New York
Times's Edward Wyatt.
Under the terms of the deal, Goldman will pay $300 million in
fines to the S.E.C., with the rest serving as restitution,
this person said. Goldman will not admit wrongdoing.
The S.E.C.'s director of enforcement, Robert Khuzami, is
scheduled to hold a press conference late Thursday afternoon.
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