(Photo: REUTERS/Lucas Jackson/Files)
Goldman Sachs Group Inc. has agreed to pay US$5.06 billion to settle claims that it misled mortgage bond investors during the financial crisis, the U.S. Department of Justice said on Monday.
The settlement, which Goldman disclosed in January, stems from the firm’s conduct in packaging, securitization, marketing and sale of residential mortgage-backed securities between 2007 and 2009, the Justice Department said.
Investors suffered billions of dollars in losses from the securities bought during the period, the department said.
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