United States v. The Goldman Sachs Group, Inc.
United States Department of Justice
Case No. 20-437 (2020)
- Written by David Bloom, JD
Facts
Employees of The Goldman Sachs Group, Inc. (Goldman Sachs) (defendant), an investment banking firm, conspired to bribe foreign government officials to obtain profitable business deals. Criminal charges were brought against Goldman Sachs by the United States Department of Justice (DOJ). Goldman Sachs admitted to violating the Foreign Corrupt Practices Act (FCPA). To avoid prosecution, Goldman Sachs entered into a deferred-prosecution agreement with the DOJ. Under the deferred-prosecution agreement, Goldman Sachs promised to implement a more effective corporate compliance program; rectify various deficiencies in Goldman Sachs’s internal-accounting protocols; conduct periodic reviews and tests of Goldman Sachs’s anticorruption policies and procedures and remedy any shortcomings; provide proper oversight, training, and guidance for all Goldman Sachs’ employees regarding anticorruption measures; establish better internal reporting and investigation procedures; and closely monitor business relationships with third parties and conduct due diligence.
Rule of Law
Issue
Holding and Reasoning ()
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