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  1. Wealth
May 5, 2010

FT: Paulson will pay for Goldmans litigation

By Spear's

John Paulson, whose hedge fund profited from the transaction at the heart of the civil fraud charges filed in the US against Goldman Sachs, has pledged to his investors that he will bear the costs of any litigation brought against his company in the matter.

John Paulson, whose hedge fund profited from the transaction at the heart of the civil fraud charges filed in the US against Goldman Sachs, has pledged to his investors that he will bear the costs of any litigation brought against his company in the matter.

Mr Paulson’s assertion that his funds would not be charged for potential litigation expenses came during a call with investors in late April. However, he emphasised that he did not expect any legal action to be taken against Paulson & Co.

“The Securities and Exchange Commission is clear that we did not misrepresent anything,” Mr Paulson said. “The SEC complaint has no impact on us.”

The SEC announced fraud charges against Goldman on April 16, alleging that the bank misled investors about the role played by Mr Paulson’s group in the creation of a synthetic collateralised debt obligation, known as Abacus, in early 2007.

To read the full story, visit ft.com

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