01.07.2016 - Goldman Sachs Executive Says Libya Understood Derivatives
In $1.2 billion lawsuit, country’s sovereign-wealth fund accuses Goldman of leading novices into disastrous investment. A Goldman Sachs Group Inc. executive testified that Libya’s sovereign-wealth fund knew what it was doing when it bought derivatives from the bank that later soured, disputing allegations that Goldman led an inexperienced buyer into a disastrous investment. The Libyan Investment Authority, or LIA, understood the disputed derivatives it bought from Goldman, Andrea Vella, co-head of Asian investment banking at Goldman, told the High Court in London on Thursday...............................................Full Article: Source
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