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17th April 2010, 08:57 PM
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Goldman Sachs finds $5bn for pay and bonuses amid fraud investigation

Goldman staff will benefit from almost half the investment bank's first-quarter revenues

Goldman Sachs is expected to earmark about $5bn (£3bn) for staff pay and bonuses this week, days after being accused of securities fraud by the US regulators, fuelling the controversy over bankers' rewards in the teeth of the financial crisis.

Chief executive Lloyd Blankfein is expected to unveil revenues of $11bn for the first quarter of this year on Tuesday, up from $9.4bn in the same period of 2009. About 47% of that will go into a "compensation pool" for bosses and employees.

http://www.guardian.co.uk/business/2010/apr/18/goldman-sachs-pay-bonuses

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