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Article: Goldman Sachs took big risk on Maxwell
- Article from:
- The Boston Globe (Boston, MA)
- Article date:
- December 12, 1991
- Author:
CopyrightCopyright (null) The Boston Globe. Provided by ProQuest LLC. (Hide copyright information)
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Goldman Sachs, the firm that traded the late Robert Maxwell's
securities with him and is still owed $62 million, is bound to find
itself drawn into the official investigation of manipulation and
plundering of his corporate empire.
For five years Maxwell employed Goldman Sachs several times to
liquidate huge positions in his personal portfolio. Goldman Sachs'
market-making operation in London made money trading Maxwell
Communications common shares, before selling them back to Maxwell's
personal investment company.
Goldman Sachs also cashed in as investment banker to Maxwell's
peripatetic wheeling and dealing. It was co-manager of the initial
public offering of Berlitz, the language school ...