| Earlier this year the Libyan Investment Authority commenced litigation against Goldman to try to recover up to US$1.3 billion of losses the fund incurred because of equity derivatives sold by the US bank in 2008.
But Goldman is also being investigated by the Securities and Exchange Commission and Department of Justice because of efforts it is alleged to have made to help redress those losses, through a proposed $50 million payment through an Amsterdam-based and Libyan-controlled institution called Palladyne. The circumstances are complicated; follow the link at the top to the Euromoney article to see more, and to learn about a memo at the heart of the DOJ’s case...............................................Full Article: Source
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