Goldman Hit With Fraud Suit Over $34M Currency-Trade Loss

Law360, New York (December 4, 2013, 6:03 PM EST) -- Goldman Sachs Group Inc. was sued for fraud on Wednesday by a Singaporean investor who claims he lost over $34 million after the investment bank conned him into executing two exotic currency option trades by lying about the terms, while it reaped millions of dollars in commissions and fees.

Oei Hong Leong, who has had a business relationship with Goldman since 2001, accuses Goldman employees of inducing him into two currency option trades involving the Brazilian real and Japanese yen by making knowingly false and reckless...
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