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Goldman Sachs subpoenaed for failing to cooperate with finance probe

AFP [1]
June 8, 2010

WASHINGTON — A high profile panel investigating the causes of the financial crisis announced Monday it had subpoenaed Goldman Sachs for failing to cooperate with the probe.

“The Financial Crisis Inquiry Commission has issued a subpoena to Goldman Sachs & Co. for failing to comply with a request for documents and interviews in a timely manner,” the body said in a statement.

It is the latest controversy for the New York-based bank, which is facing civil and potentially criminal charges for misleading investors.

“The Commission has made it clear that it is committed to using its subpoena power if there is a lack of, or delay in, compliance,” the commission’s chair Phil Angelides said in statement.

“Failure to comply with a Commission request is viewed with the utmost seriousness, as the Commission will not be deterred from getting desired information.”

Full article here [1]