The Securities and Exchange Commission charged Goldman Sachs with fraud on April 16. US securities regulators charged the Wall Street firm with defrauding investors by not telling them about conflicts of interest in sub-rime mortgage investments it sold as synthetic collateralized debt obligations, or CDOs. In a civil suit, the SEC alleged that Goldman did not tell investors that Paulson & Co, a hedge fund, was involved in choosing the subprime mortgages that were bundled and sold to investors in a CDO known as Abacus 2007-AC1.
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