A Sex Scandal at Goldman Sachs Has Morphed into a Lawyer Scandal

A Sex Scandal at Goldman Sachs Has Morphed into a Lawyer Scandal By Pam Martens and Russ Martens for Wall Street on Parade

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It’s starting to feel like Goldman Sachs has an insatiable appetite for scandal. Thanks to Matt Taibbi, Goldman is already known around the world as “a great vampire squid wrapped around the face of humanity, relentlessly jamming its blood funnel into anything that smells like money.” Most recently, Goldman jammed its blood funnel into the 1MDB sovereign wealth fund of Malaysia, resulting in a criminal indictment by the Malaysian government followed by a settlement with Malaysia for $3.9 billion. In October criminal charges were brought in the same matter by the U.S. Department of Justice against Goldman, resulting in another $2.9 billion in fines by U.S. and foreign regulators.

The heavily publicized 1MDB scandal has filled headlines for the past five years. The Justice Department just settled its 1MDB charges against Goldman four weeks ago. Now Goldman is already back in the tabloid headlines for handling a sexual harassment case so shoddily that it seems like the multi-national bank has some kind of psychological need to perpetually sabotage its reputation.

The roots of the latest scandal began in December 2017 when it was announced that a partner of the big Wall Street law firm, Sullivan & Cromwell, Karen Seymour, would be moving to Goldman Sachs to become co-general counsel and partner. Seymour is currently the General Counsel at Goldman. Seymour recommended a former colleague at Sullivan & Cromwell, Darrell Cafasso, to become the Global Head of Litigation at Goldman and he was hired for the job.

Now Goldman, Seymour and Cafasso are being sued by Marla Crawford, a lawyer who worked for the law firm, Jones Day, for 22 years and as a lawyer for Goldman for the past decade. Crawford held the position of Associate General Counsel at Goldman prior to her termination. Crawford’s lawsuit indicates that she had received “exemplary” performance reviews and was terminated for speaking up against the sexual harassment conduct of Cafasso toward one of Crawford’s younger colleagues. According to the lawsuit, this is what went down:

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Mission: Wall Street On Parade hopes to level the playing field between Wall Street and the 99 percent. Wall Street is a jungle of devices to effect an institutionalized wealth transfer system. The goal of this web site is to provide the jungle guide to the 99 percent in the hope of bringing about citizen-inspired change.