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Goldman sued by Libyan fund over $350m profits

Goldman sued by Libyan fund over $350m profits

Goldman Sachs is being sued by the Libyan Investment Authority over $350m (£212m) of profit made in a series of derivative trades which turned sour in the financial crisis.

The investment bank stands accused of “deliberately exploiting” its relationship with the sovereign wealth fund in order to make “substantial profits.”

Goldman is being sued in the High Court in London over a $1bn series of nine trades into companies including Citigroup, EdF, Santander and ENI.

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