Skip Navigation

Close and don't show again.

Your browser is out of date.

You may not get the full experience here on National Journal.

Please upgrade your browser to any of the following supported browsers:

Goldman, Other Companies Under the Microscope for Libya Fund Dealings Goldman, Other Companies Under the Microscope for Libya Fund Dealings

This ad will end in seconds
 
Close X

Not a member? Learn More »

Forget Your Password?

Don't have an account? Register »

Reveal Navigation
 

 

National Security / foreign affairs

Goldman, Other Companies Under the Microscope for Libya Fund Dealings

photo of Olga Belogolova
June 9, 2011

The Securities and Exchange Commission is looking into whether Goldman Sachs and several other financial companies violated bribery laws in their dealings with Libya's sovereign-wealth fund, according to a Wall Street Journal report that cites people familiar with the matter.

SEC enforcement officials are specifically reviewing documents to examine the relationships between the firms and the Libyan Investment Authority controlled by Muammar el-Qaddafi.

One such dealing is a $50 million fee Goldman had initially agreed to pay the sovereign-wealth fund, but the payment was never made as discussions stalled right before violence erupted in Libya earlier this year.

 

Still, the company is not exempt from the Foreign Corrupt Practices Act, which bans companies from not only paying bribes to foreign government officials, but also just offering to do so.

Carlyle Group, Och-Ziff Capital Management Group, JPMorgan Chase and several other companies are also being scrutinized by SEC enforcement lawyers for their dealings with the Libyan Investment Authority, according to the newspaper.

More National Security
Job Board
Search Jobs
Professional Development Program Engineer
American Society of Civil Engineers | Farmington Hills, MI
Biomedical Service Internship Position
American Society of Civil Engineers | Flint, MI
Deputy Director of Transit Operations
American Society of Civil Engineers | San Jose, CA
Structural Engineer
American Society of Civil Engineers | New Haven, CT
Transportation Planner
American Society of Civil Engineers | Salinas, CA
Assessment and Remediation Team Lead
American Society of Civil Engineers | Regina, SK
Quality Systems Manager
American Society of Civil Engineers | Greensboro, NC
Quality Engineer
American Society of Civil Engineers | Attica, IN
Senior Water Resource Project Manager
American Society of Civil Engineers | Fairfax, VA
Civil Engineering
American Society of Civil Engineers | Steamboat Springs, CO
Entry Level Geotechnical Engineer
American Society of Civil Engineers | Albany, NY
Sales Engineer-Process Automation/Instrumentation
American Society of Civil Engineers
Senior Project Manager- Transportation
American Society of Civil Engineers | San Antonio, TX
Materials Engineer 2
American Society of Civil Engineers | IL
Land Surveyor
American Society of Civil Engineers
 
Comments
comments powered by Disqus