|August 10, 2012
Source: Wall Street Journal
After a yearlong investigation, the Justice Department said Thursday that it won’t bring charges against Goldman Sachs Group Inc. or any of its employees for financial fraud related to the mortgage crisis.
In a statement, the Justice Department said “the burden of proof” couldn’t be met to prosecute Goldman criminally based on claims made in an extensive report prepared by a U.S. Senate panel that investigated the financial crisis.
“Based on the law and evidence as they exist at this time, there is not a viable basis to bring a criminal prosecution with respect to Goldman Sachs or its employees in regard to the allegations set forth in the report,” the statement read.
The Justice Department reserved the right to bring charges in the future if new evidence emerges.
In a statement Thursday, Goldman said: “We are pleased that this matter is behind us.”