Goldman Settles with SEC

Paying Up

Updated Apr. 24, 2017 6:31PM EDT / Published Jul. 15, 2010 12:27PM EDT

Apparently, it’s easier for Goldman Sachs to fork over half-a-billion dollars than it is to say sorry: The investment bank has agreed to pay $550 million to the SEC in order to settle charges that it defrauded investors, but it will not admit any wrongdoing, according to The New York Times. Three-hundred-million dollars will go directly to the SEC, while the rest will serve as restitution to the investors who bought mortgage packages that had been handpicked by a hedge fund that wanted to bet against them.

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Goldman Settles with SEC