Goldman Sachs is being scrutinized for buying up Silicon Valley Bank’s debt while advising it to raise capital, according to a report.
The Fed, the Securities and Exchange Commission, and the Department of Justice are seeking documents from Goldman as part of broader investigations into the downfall of Silicon Valley Bank,Goldman is being scrutinized for alleged improper communication between its trading division and its investment banking department about the sale of the portfolio, sources told The Journal.
When reached by The Post, a spokesperson for Goldman said: “SVB engaged Goldman Sachs to assist with a proposed capital raise and sold the firm a portfolio of securities.” “As we have publicly disclosed in our 10-Q, Goldman Sachs is cooperating with and providing information to various governmental bodies in connection with their investigations and inquiries into SVB, including the Firm’s business with SVB in or around March 2023,” the spokesperson added.
So it turned to Goldman, which recommended raising more capital in hopes of reassuring jittery investors.
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