Tags: EU | Goldman | Sachs | Germany

Germany May Try for Compensation From Goldman

Monday, 19 Apr 2010 10:09 AM

 

Share:
  Comment  |
   Contact Us  |
  Print  
|  A   A  
  Copy Shortlink

Germany says it is looking into the possibility of seeking financial compensation from Goldman Sachs over a fraud case brought against the investment bank in the United States.

The Finance Ministry said German regulator BaFin will seek information on the case from the U.S. Security and Exchange Commission on Monday to gauge chances of compensation for losses at IKB Deutsche Industriebank AG.

The SEC says that IKB, an early victim of the financial crisis, lost nearly $150 million in investments marketed by Goldman. It had to be rescued in 2007 with help from a German government-owned bank.

Finance Ministry spokeswoman Jeanette Schwamberger said the government's chances to get money back are unclear as IKB was sold in 2008 to Dallas-based Lone Star Funds.

© Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Share:
  Comment  |
   Contact Us  |
  Print  
  Copy Shortlink
Around the Web
Join the Newsmax Community
Please review Community Guidelines before posting a comment.
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
 
Email:
Retype Email:
Country
Zip Code:
 
Hot Topics
Follow Newsmax
Like us
on Facebook
Follow us
on Twitter
Add us
on Google Plus
Around the Web
You May Also Like

Report: More Acidic Seawater Poses Risks in Alaska

Tuesday, 29 Jul 2014 10:01 AM

A new report says the release of carbon dioxide into the air from factory smokestacks to the tailpipe on your car could  . . .

Ebola's Escape From Africa by Plane Unlikely, Not Impossible

Tuesday, 29 Jul 2014 07:16 AM

Ebola, the killer of more than 670 people in four West African countries since February, has spread beyond Africa only o . . .

Study: Fist Bumps Could Cut Transmission of Germs

Monday, 28 Jul 2014 14:39 PM

Ditching handshakes in favor of more informal fist bumps could help cut down on the spread of bacteria and illnesses, ac . . .

Most Commented

Newsmax, Moneynews, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, NewsmaxWorld, NewsmaxHealth, are trademarks of Newsmax Media, Inc.

 
NEWSMAX.COM
America's News Page
©  Newsmax Media, Inc.
All Rights Reserved