Goldman Sachs has been facing some lawsuits and fines recently. Goldman Sachs was fined $650,000 for not disclosing that two employees had received a Wells notice that the SEC was planning an enforcement action. Read the article in Dealbook here.
Another suit for $1.2 billion is a class action lawsuit for CDOs packaged and sold in 2006 and 2007 called Hudson Mezzanine Funding 1 and 2. You can read that article in WSJ here.
Finally, GS is suing and being counter-sued by France's Natixis over the legality of terminating CDSs (worth $530 million) bought by Goldman Sachs International in London. You can read the story in Bloomberg here
Editor's Note: The 1st comment for this post is very interesting and I thank the Anon reader for posting it. The link from which this comment comes from takes you to Zero Hedge which posted the writings of Michael Krieger owner of Kam LP Fund. To view his entire piece...click here.
GoldmanSachs666 Message Board
According to the Collins English Dictionary 10th Edition fraud can be defined as: "deceit, trickery, sharp practice, or breach of confidence, perpetrated for profit or to gain some unfair or dishonest advantage". In the broadest sense, a fraud is an intentional deception made for personal gain or to damage another individual; the related adjective is fraudulent. The specific legal definition varies by legal jurisdiction. Fraud is a crime, and also a civil law violation. Defrauding people or entities of money or valuables is a common purpose of fraud, but there have also been fraudulent "discoveries", e.g. in science, to gain prestige rather than immediate monetary gain
*As defined in Wikipedia