WASHINGTON, Aug 9 (Reuters) - Neither Goldman Sachs Group
Inc nor its employees will face U.S. criminal charges
related to trades they made during the financial crisis that
were highlighted in a 2011 U.S. Senate report, the Justice
Department said on Thursday.
The unusual announcement not to prosecute criminally came in
an unsigned statement attributed to the department.
Few expected the bank to face criminal charges, but in April
2011, U.S. Senator Carl Levin asked for a criminal investigation
after the subcommittee he leads spent years looking into
Levin's subcommittee held televised hearings as part of its
inquiry, which centered on a subprime mortgage product known as
Abacus. He said Goldman misled Congress and investors.
Goldman employee Fabrice Tourre still faces a civil
complaint from the U.S. Securities and Exchange Commission. He
has denied any wrongdoing and was the only person accused.
Goldman itself settled with the SEC for $550 million in July
2010 without admitting wrongdoing.
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