Goldman plans settlement talks with SEC: report

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NEW YORK | Tue May 4, 2010 1:42pm EDT

NEW YORK (Reuters) - Goldman Sachs Group Inc may enter talks to settle U.S. Securities and Exchange Commission fraud charges as soon as today, Fox Business Network's Charlie Gasparino reported.

Goldman officials believe the SEC's case is without merit, but the firm does not want to battle with regulators, the report said, citing sources including an unidentified senior executive at the firm.

Goldman would likely focus on getting regulators to back off civil fraud charges, and agree to lesser charges and a fine, the report said.

But people close to the SEC said the commission may be reluctant to agree to a lenient settlement, Gasparino reported.

Goldman Sachs spokesman Samuel Robinson declined to comment. SEC spokesman John Heine also declined to comment.

(Reporting by Dan Wilchins and Steve Eder; Editing by Derek Caney and John Wallace)
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Comments (6)
Benny_Acosta wrote:
I guess if you have enough money, you don’t have to go through the effort of defending yourself or be held accountable.

I doubt the SEC has the stones, or the case, to push the issue.

May 04, 2010 12:41pm EDT  --  Report as abuse
fred5407 wrote:
I think that a fine and being absolved of any wrong doing is a crock. One thing that has to change is money justice. That cannot go on. Might want to have Goldman lose its license for a while.

May 04, 2010 1:03pm EDT  --  Report as abuse
MidasLetter.com wrote:
The case is without merit? Absolutely unbelievable. The entire executive staff of Goldman Sachs should be held without bail and charged with contempt. Not a single American worthy of citizenship should stand idly by and let this organized crime syndicate escape.
jwest@MidasLetter.com

May 04, 2010 1:52pm EDT  --  Report as abuse
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