How Much Might Goldman Sachs Have To Pay?

Embattled US bank Goldman Sachs will pay 550 million dollars to settle a US fraud probe, the New York Times said Thursday, quoting a person close to the deal.Goldman faced civil charges filed by the Securities and Exchange Commission (SEC), which accused the company of defrauding investors about a financial product based on subprime mortgage-backed securities.The company's executives had vigorously denied the charges.

Embattled US bank Goldman Sachs will pay a record 550 million dollars to settle government fraud charges, the Securities and Exchange Commission said.Facing allegations of defrauding investors, the storied investment bank admitted it had made a "mistake" and given "incomplete" information to clients.The SEC had accused Goldman of allowing a prominent hedge fund -- Paulson & Co. Inc -- to put together a package of subprime mortgages that were sold to clients, but which Paulson was also betting against.

Former Goldman Sachs official, Matthew Taylor has pleaded guilty for wire fraud and hiding $8.3 billion in future contracts, which he was not authorised to make, reported Financial Times.

John Lounsbury submits:Goldman Sachs (GS) and the SEC (Securities and Exchange Commission) have announced a settlement of the suit over the Abacus security case which was a civil action charging fraud by Goldman.

Embattled US bank Goldman Sachs will pay a record 550 million dollars to settle government fraud charges, the Securities and Exchange Commission has said.Facing allegations of defrauding investors, the storied investment bank admitted it had made a "mistake" and given "incomplete" information to clients.The SEC had accused Goldman of allowing a prominent hedge fund -- Paulson & Co. Inc -- to put together a package of subprime mortgages that were sold to clients, but which Paulson was also betting against.

Zacks.com submits: The Goldman Sachs Group Inc. (GS) second quarter 2010 earnings per share of $2.75 were significantly ahead of the Zacks Consensus Estimate of $2.10. Including the impact of $600 million related to the U.K.