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You used to need at least $10 million in investible assets to draw the attention of wealth managers at Goldman Sachs Group Inc. Now, all it takes is $1,000 and a smartphone. The Wall Street firm on Tuesday is set to unveil Marcus Invest, a low-cost digital platform that allocates and automatically rebalances individuals’ wealth […]
A vice president of investment banking at Goldman Sachs was arrested and charged with using inside information to place profitable trades in advance of the bank’s investment banking deals. The U.S. Attorney’s office for the Southern District of New York on Thursday accused Woojae “Steve” Jung with using sensitive client information to trade the stocks […]
While the SEC, as well as federal prosecutors, eventually wrenched billions of dollars from the big banks, a vexing question remains: Why did no top bankers go to prison? Some have pointed out that statutes weren’t strong enough in some areas and resources were scarce, and while there is truth in those arguments, subtler reasons […]
Fabrice “Fabulous Fab” Tourre must feel he has a winning hand. That might explain why lawyers for the ex-Goldman Sachs banker rested yesterday without calling a single witness to testify, including hedge-fund honcho John Paulson, who played a key role in the case. via Fabrice ‘Fabulous Fab’ Tourre defense rests, feels it holds all the […]
When you’ve already taken as many hits as former Goldman Sachs board member Rajat Gupta has from his involvement in the Rajaratnam insider trading case, is there anything else bad that can still happen to you? It turns out the answer to that question is a resounding yes, as the SEC took its pound of […]
Jurors at a Manhattan trial of a former Goldman Sachs trader heard him described Monday both as an architect of a massive securities fraud and as a low-level scapegoat for the mortgage market meltdown that began in 2007…. “This is a case about Wall Street greed,” SEC lawyer Matthew Martins said in opening arguments at […]
$250 million will be returned to investors through a Fair Fund distribution.
Guest columnist Jacob Frenkel writes that while Goldman has compelling arguments, a settlement with the SEC remains likely.
“Stunning” Goldman case focal point of extraordinary panel discussion.
DOJ reportedly opens criminal investigation into mortgage securities deals.