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Goldman Settles Fraud Case over Mortgage Investments

HeadlineJul 16, 2010

The Wall Street giant Goldman Sachs has agreed to a $550 million fine to settle a civil fraud lawsuit over selling a mortgage investment that had been established to fail. The investment consisted of pools of risky mortgages that had been packaged together. It’s the largest civil fraud settlement in Wall Street history, but according to reports, Goldman had been expecting to pay at least twice as much.

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