Goldman Sachs Ordered to Disclose Libya Profits

A London court has ordered Goldman Sachs to reveal how much profit it made on a deal that lost Libya’s government more than $1 billion when financial bets turned sour, reports the Guardian.

The country's $66-billion sovereign wealth fund, the Libyan Investment Authority (LIA) estimates that Goldman made $350m in upfront profit on the trades.

The bank has never confirmed or denied this figure and argues that its profits are irrelevant.

But the high court has ordered the US investment bank to disclose how much money it had made on the deal.

(Source: Guardian)

No comments yet.

Leave a Reply