Sachs probed over Silicon Valley fail
US authorities are investigating Goldman Sachs’ work for Silicon Valley Bank in connection with the events surrounding the California bank’s collapse, Goldman disclosed in a securities filing overnight.
Goldman is “cooperating with and providing information to various governmental bodies” on its activities for SVB in March just before the tech-oriented bank went under, according to the filing.
Goldman has been criticised over its multiple roles with SVB, in which it was both advising the California bank and purchasing distressed debt in a deal that ultimately played a central role in SVB’s collapse.
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