Fund Questions Goldman Sachs Land Donation

Law360, New York (June 8, 2006, 12:00 AM EDT) -- A mutual fund has called into question statements made at Goldman Sachs’ annual shareholder meeting, asking the U.S. Securities and Exchange commission to look into the investment bank’s environmental spending.

In a letter sent to the SEC earlier this week, Action Fund Management, the financial advisor to mutual fund Free Enterprise Action Fund, asked the agency to investigate “potentially false and misleading statements” made by Goldman and its executives.

The fund has alleged that Goldman CEO Henry Paulson has improperly used investor funds in personal projects,...
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