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.
