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News Summary: Goldman pays almost $12M in SEC deal

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News Summary: Goldman pays almost $12M in SEC deal
Submitted by Fox First at Ten on September 27th

By The Associated Press

CHARGES SETTLED: Goldman Sachs has agreed to pay nearly $12 million to settle civil charges accusing one of its executives of providing campaign services to a Massachusetts official in return for bond business.

EX-VP CHARGED: The Securities and Exchange Commission also charged ex-Goldman vice president Neil M.M. Morrison with trying to influence the awarding of state contracts through campaign work for former Massachusetts Treasurer Timothy Cahill.

GOLDMAN FEES: Goldman earned more than $7.5 million in fees from underwriting Massachusetts bond sales after Morrison campaigned for Cahill using company phones and email, the SEC said.

Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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