Now, why am i unsurprised?The London office of Goldman Sachs was at the heart of dealings with the Libyan government that ended up with the Wall Street investment bank offering to compensate the North African country with billions of dollars of preference shares for a series of failed bets.
The Libyan Investment Authority (LIA), the country's sovereign wealth fund, was offered the option of $5bn (£3bn) of preferred shares in Goldman Sachs in an effort to appease senior Libyan officials angered by losses they blamed on the bank, according to the Wall Street Journal.
Suggested by Goldman executives in May 2009, the idea would have seen the LIA stump up about $3.7bn for the shares which would have paid between 4pc and 9.25pc interest a year for the next 40 years. It is understood that the preferred shares would never have been converted into common shares in Goldman.
Goldman Sachs offered shares to Libya after failed trades - Telegraph