BUSINESS
04/19/2010 05:12 am ET | Updated May 25, 2011

Greece, Goldman Sachs 'Fooled' Investors By Not Disclosing Huge Currency Swap

Feb. 17 (Bloomberg) -- Goldman Sachs Group Inc. managed $15 billion of bond sales for Greece after arranging a currency swap that allowed the government to hide the extent of its deficit.

No mention was made of the swap in sales documents for the securities in at least six of the 10 sales the bank arranged for Greece since the transaction, according to a review of the prospectuses by Bloomberg.

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