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Goldman Sachs to pay $5 billion for misleading mortgage bond investors

Published: April 11, 2016
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Source: Reuters

Goldman Sachs Group Inc (GS.N) has agreed to pay $5.06 billion to settle claims that it misled mortgage bond investors during the financial crisis, the U.S. Department of Justice said on Monday.

The settlement, which Goldman disclosed in January, stems from Goldman’s conduct in its packaging, securitization, marketing and sale of residential mortgage-backed securities between 2007 and 2009, the Justice Department said.

Investors suffered billions of dollars in losses from the securities bought during the period, the Justice Department said.

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