Goldman pays $14m SEC fine

 
City A.M. Reporter
GOLDMAN Sachs agreed yesterday to pay more than $14m to settle federal and state charges after it violated “pay-to-play” rules, in a case involving campaign contributions to former Massachusetts governor candidate Timothy Cahill.

In what the SEC described as its first “pay-to-play” case involving contributions other than cash, Goldman settled without admitting or denying the charges.

Pay-to-play refers to cash or other contributions made to officials to influence the award of lucrative public contracts.