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Goldman Sachs Said to Get Subpoena From New York Prosecutor

By Christine Harper - Jun 2, 2011 9:43 AM ET


Goldman Sachs Group Inc. (GS), the fifth- biggest U.S. bank by assets, received a subpoena from the Manhattan District Attorney’s office seeking information on the firm’s activities leading into the credit crisis, according to two people familiar with the matter.

“We don’t comment on specific regulatory or legal issues, but subpoenas are a normal part of the information request process and, of course, when we receive them we cooperate fully,” said David Wells, a company spokesman.

The request relates to the U.S. Senate’s Permanent Subcommittee on Investigations report on Wall Street’s role in the housing market collapse, which accused New York-based Goldman Sachs of misleading buyers of mortgage-linked investments, the people said. That report was referred to the U.S. Department of Justice and the Securities and Exchange Commission, which are also investigating.

A message left for Erin Duggan, chief spokeswoman for Manhattan District Attorney Cyrus Vance Jr., wasn’t immediately returned.
A subpoena is a request for information and doesn’t mean the company is a target of a criminal investigation. Analysts including Sanford C. Bernstein’s Brad Hintz have said they don’t expect the firm to be criminally prosecuted.

To contact the reporter on this story: Christine Harper in New York at [e-mail]
To contact the editor responsible for this story: David Scheer at [e-mail].

http://www.bloomberg.com/news/2011-06-02/goldman-said-to-get-subpoena-from-manhattan-prosecutor-over-senate-report.html

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