Fake Goldman Sachs revealed
Print Edition
A staffer at a Chinese finance company named Goldman Sachs said any similarity to the multi-billion-dollar US investment giant was unintentional yesterday, weeks after a Chinese man was arrested for setting up a fake bank branch.
Goldman Sachs (Shenzhen) Financial Leasing Co, operating in the southern boomtown next to Hong Kong, has an almost identical name to New York-based financial institution, Goldman Sachs Group Inc.
“We don’t have any connection with the US Goldman Sachs,” said a woman who answered the company’s listed phone number.
“We just picked the name out, and it’s not intentionally the same,” she added, before hanging up.
The company uses the same Chinese characters as Goldman Sachs does officially in the country, the world’s second-largest economy.
Shenzhen’s Goldman Sachs was exposed by a letter sent by a US casino workers union to Chinese anti-corruption officials asking them to investigate the firm, Bloomberg News reported.
The Chinese firm’s English font is evocative of the US bank’s, Bloomberg News reported, labeling the company a “pirate” version of Goldman Sachs.
A Hong Kong-based spokeswoman for the US investment bank Goldman Sachs denied any ties with the Shenzhen company to Bloomberg News and said it was “looking into the matter.”
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