Goldman Faces Venezuela Probe, Protest After Bond Purchase
- Venezuelan lawmakers ask U.S. Congress to probe transaction
- Bank says investment reflects belief life there will improve
Goldman Sachs Under Fire Over Venezuela Bond Deal
This article is for subscribers only.
Goldman Sachs Group Inc. faces a probe by Venezuela’s opposition leaders after buying bonds issued in 2014 by the state oil company, a purchase some lawmakers said bolsters President Nicolas Maduro as he grapples with accusations of human-rights violations.
The South American nation’s legislature vowed to launch an investigation into whether the investment by Goldman Sachs’s asset-management arm broke any laws, or whether paying back the debt is in the best interest of Venezuelans. The National Assembly also approved a motion late Tuesday to petition the U.S. Congress to probe the deal, which lawmakers said will prop up the country’s embattled president.