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Justice Department: No Evidence for Charges Against Goldman Sachs

Steve Neavling
ticklethewire.com 

Federal authorities closed two investigations into mortgage deals at Goldman Sachs, the Justice Department announced in a rare statement late Thursday, Reuters reports.

Although federal prosecutors are typically loathe to publicize the closing of a case, they issued a statement announcing that no illegal activity was found.

“The department and investigative agencies ultimately concluded that the burden of proof to bring a criminal case could not be met based on the law and facts as they exist at this time,” the Justice Department said in a statement late on Thursday.

The investigation was spurred by a Congressional committee that asked prosecutors to look into several mortgage deals after Goldman sold troubled mortgage securities to investors who eventually lost a fortune, Reuters reported.

Also on Thursday, the Securities and Exchange Commission announced it ended its investigation into a $1.3 billion subprime mortgage deal.

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