WASHINGTON — The Justice Department said Thursday it won't prosecute Goldman Sachs or its employees in a financial fraud probe.
In a written statement, the department said it conducted an exhaustive investigation of allegations brought to light by a Senate panel investigating the 2008-2009 financial crisis.
But the department added that if additional or new evidence were to emerge, it could reach a different conclusion about prosecuting Goldman.
A Senate subcommittee in April 2011 found that Goldman marketed four sets of complex mortgage securities to banks and other investors, but that the firm failed to tell clients that the securities were very risky. The Senate panel said Goldman secretly bet against the investors' positions and deceived the investors about its own positions to shift risk from its balance sheet to theirs.
— Associated Press
- Better than a raise: The smallest thing you...
- WestJet airline video goes viral as Santa...
- Leavitt stresses importance of allies, alliances
- The American Dream is still alive for 20...
- Randy Shumway: Why so early? Holiday spending...
- Sugar House streetcar prepares for public launch
- Weber State center helping to improve auto...
- Once controversial downtown property finally...
- The American Dream is still alive for... 10
- System failure to blame for delayed... 9
- Leavitt stresses importance of allies,... 7
- Cedar Hills to require business... 5
- Better than a raise: The smallest thing... 5
- Healthy jobs report a good sign for... 2
- US unemployment falls to 7 pct. on 203K... 1
- Barnes & Noble shares fall on SEC probe 1