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July 16, 2010

Goldman Settles Fraud Case over Mortgage Investments
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The Wall Street giant Goldman Sachs has agreed to a $550 million fine to
settle a civil fraud lawsuit over selling a mortgage investment that had
been established to fail. The investment consisted of pools of risky
mortgages that had been packaged together. It’s the largest civil fraud
settlement in Wall Street history, but according to reports, Goldman had
been expecting to pay at least twice as much.



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