Regulators said to probe Goldman internship

Goldman Sachs Blink

U.S. regulators are investigating a Goldman Sachs internship for the brother of a former official at Libya's sovereign wealth fund and perks allegedly offered by the bank to the fund, the Wall Street Journal reported on Thursday, citing people familiar with the matter.

Reuters reports that as part of an ongoing investigation into Goldman's ties to Libya's sovereign wealth fund, the Securities and Exchange Commission is reviewing the company's decision in June 2008 to hire the brother of Mustafa Zarti, then deputy chief of the Libyan Investment Authority, as an intern, the WSJ report said.

The report comes in the wake of allegations by Libya's sovereign wealth fund that the Wall Street bank exploited a position of trust by encouraging the fund to invest more than $1 billion (606 million pounds) in trades that ended up worthless.

Hit the link below to access the complete Reuters article:

U.S. SEC probing Goldman Sachs internship for brother of Libyan ex-official - WSJ

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