Washington, DC: Goldman Sachs & Co has agreed to a $550 million settlement in a civil suit alleging fraud in that it mislead purchasers of mortgage-related investments.
According to a report by AP and CBS News, the agreement calls for Goldman to pay the Securities and Exchange Commission (SEC) fines of $300 million, with the remainder of the monies going to compensate people who lost money on their investments.
The settlement is reportedly the largest brought against a financial company since the beginning of the SEC.
