Two weeks after the Securities and Exchange Commissionleveled fraud charges against banking concern Goldman Sachs, the financialgiant is said to be mulling settlement talks with the regulator, according to Fox Business Network.

The report said that Goldman believes the case is withoutmerit but is hesitant to become engaged in a protracted battle with the SEC.

The SEC accused the company of defrauding investors of $1billion with a mortgage product known as Abacus 2007-AC1, claiming it wasdesigned to fail thereby helping a high net worth Goldman client who had"shorted" the security.

 

Register or login for access to this item and much more

All Accounting Today content is archived after seven days.

Community members receive:
  • All recent and archived articles
  • Conference offers and updates
  • A full menu of enewsletter options
  • Web seminars, white papers, ebooks

Don't have an account? Register for Free Unlimited Access