(Reuters) - the Securities and Exchange Commission examines whether Goldman Sachs Group Inc. and certain other financial firms violated the laws of the corruption in relations with the Libya sovereign-wealth funds, the Wall Street Journal reported, citing people familiar with the case.
Lawyers from application to SEC review of the documents in detail the relations firms with the Libyan Investment Authority, controlled by the Chief of the nation, Muammar Qaddafi, the paper said.
Regulators are interested in a tax of $ 50 million that Goldman initially agreed to pay the Fund, but the payment was never that discussions have been interrupted before violence erupted in Libya earlier this year, said the paper.
The absence of a transaction does not the Bank of the federal Foreign Corrupt Practices Act, which prohibits companies relieve us from offering or paying bribes to foreign officials or employees of State enterprises, the paper said.
The newspaper added that Carlyle Group, Och-Ziff Capital Management Group, JPMorgan Chase, and several other companies had significant relations with the Libyan Investment Authority.
"We are convinced that nothing was done or proposed has been or could have been a breach of a rule or regulation," City spokesman Lucas van Praag Goldman review saying. "We have retained counsel to the outside, as is our normal practice for any transaction, to ensure that we have been consistent with all applicable rules.
A spokesman for the SEC declined to comment on the document.
Reuters was unable to join Goldman, Och-Ziff, JPMorgan, Carlyle or the SEC outside the normal U.S. business hours.
The newspaper said last week that Goldman has invested more than 1.3 billion of the Libya sovereign-wealth funds in the currency of Paris and other trades in 2008 and investment lost more than 98% of its value.
(Reported by Vaishnavi Bala in Bangalore.) (Editing by Lisa Von Ahn)
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