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Violation Tracker Individual Record

Company: Goldman Sachs & Co.
Current Parent Company: Goldman Sachs
Parent at the Time of the Penalty Announcement:  subscribe to see this data field
Penalty: $60,000,000
Year: 2009
Date: May 11, 2009
Offense Group: consumer-protection-related offenses
Primary Offense: mortgage abuses
Mega-Scandal: Toxic Securities
Violation Description: Goldman Sachs & Co. agreed to provide loan restructuring valued at approximately $50 million and pay $10 million to the Commonwealth in settlement of allegations it violated Massachusetts law by providing and securing subprime loans without the required dilligence to ensure they were fair and accurate as legally required.
Level of Government: state
Action Type: agency action
Agency: Massachusetts Attorney General
Civil or Criminal Case: civil
Facility State: Massachusetts
HQ Country of Current Parent: USA
HQ State of Current Parent: New York
Ownership Structure of Current Parent: publicly traded
Major Industry of Current Parent: financial services
Specific Industry of Current Parent: banking & securities
Source of Data: (click here)
Source Notes: If an online information source is not working, check the Violation Tracker Data Sources page for an updated link.
Current parent company note: Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.