U.S. Probes Barclays Over Ties To Saudi Prince, Goldman Exec Shifted In His Seat

Barclays Canary Wharf

Barclays and a Saudi prince are at the center of a U.S. Department of Justice probe into whether the U.K. bank made improper payments in the middle east kingdom.

CNNMoney reports that the DOJ is investigating whether Barclays paid illicit fees to Prince Turki Bin Abdullah Bin Abdul-Aziz Al Saud, through his corporate entity, Al Obayya.

The federal agency is said to have informed Barclays that it had commenced an investigation to see if it had violated the U.S. Foreign Corrupt Practices Act in October 2012.

In the meantime, The New York Times reports that Gary Cohn, the President and COO of Goldman Sachs, was sitting on stage at a conference in Manhattan on Thursday when the speaker introducing him cracked a joke.

Perhaps Cohn could expound on 'aquatic' topics, said Jeff Gooch, the CEO of MarkitSERV, before an audience of financial professionals. (It was a reference, as Gooch confirmed later, to a Rolling Stone article in 2009 that called Goldman Sachs a 'vampire squid.')

There was silence in the room. Cohn shifted in his seat.

U.S. probes Barclays over ties to Saudi prince

Goldman’s Cohn Can’t Escape the ‘Squid’

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