Goldman Sachs Reduce Executives’ Pay Due to SEC Penalties
CNBC reports Goldman Sachs has reduced CEO David Solomon’s salary from $27 million to $17.5 million, along with other executives, to reflect penalties imposed by federal regulators relating to their overseas bribery. Goldman Sachs admitted to knowingly participating in corruption schemes in the Malaysian and Abu Dhabi governments to secure government contracts beginning in 2012.
In 2019, former Goldman Sachs executive Tim Leissner was charged by the Securities Exchange Commission under the Foreign Corrupt Practices Act with bribery and maintaining fraudulent books and records followed by more charges in 2020, when Goldman Sachs faced further penalties from the SEC related to the same matter.
If your investments have been affected by misconduct including embezzlement, misappropriation of funds, lack of accurate accounting, or refusal to produce books and records, or other breaches of fiduciary duty on the part of corporate executives, call the Warren Law Group today for a free assessment of your case: (866) 954-3687 or email firstname.lastname@example.org.