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Turkey warns Israel over airspace violations
WASHINGTON, March 29 (UPI) -- Investment bank Goldman Sachs Group Inc. could be charged with securities fraud by the Securities and Exchange Commission, the Wall Street Journal reported Friday.
Goldman will be charged with breaching a U.S. Treasury embargo last October, when the bank allegedly stopped selling 30-year bonds before the news became public knowledge, according to the Wall Street Journal. The SEC had been investigating the matter since last November.
News of the 30-year bond ceasing to be sold was revealed at a Treasury press conference, with a one-hour embargo. However, the price of the bond rose sharply shortly after the briefing.
The financial daily reported that one reporter at the briefing told Goldman Sachs of the decision ahead of the embargo, and the company promptly acted on the information.
While newsletter writer Pete Davis, who leaked the information to the bank, could be charged with fraud, the Treasury also had broken its own embargo at the time.
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