FILE PHOTO: The U.S. Securities and Alternate Fee emblem adorns an workplace door on the SEC headquarters in Washington, June 24, 2011. REUTERS/Jonathan Ernst

(1) – The U.S. securities regulator on Monday charged a former banker at Goldman Sachs Group Inc (GS.N) for arranging a minimum of $2.5 million in bribes to be paid to Ghana authorities officials to acquire approval for a consumer’s energy plant challenge.

The Securities and Alternate Fee mentioned right here Asante Berko, a former worker at a subsidiary of the U.S. lender, organized the bribes for a Turkish power firm to funnel the cash to a Ghana-based middleman, which then paid the native officials.

“Goldman Sachs absolutely cooperated with the SEC’s investigation and as said by the SEC in its press launch, the agency’s compliance personnel took acceptable steps to stop the agency from taking part within the transaction,” firm spokeswoman Nicole Sharp mentioned.

Berko helped the Ghana-based middleman pay greater than $200,000 in bribes to numerous different authorities officials, and personally paid greater than $60,000 to members of the Ghanaian parliament and different authorities officials, the SEC assertion mentioned, including that Berko took deliberate measures to stop his employer from detecting the bribery scheme.

The regulator filed the grievance within the U.S. District Courtroom for the Jap District of New York and is looking for financial penalties, amongst different treatments, towards Berko.

The Wall Avenue Journal had reported the information earlier within the day.

Reporting by Ayanti Bera in Bengaluru, Modifying by Sherry Jacob-Phillips