Goldman Sachs banker charged with rape in New York state

n">(Reuters) - A New York-based Goldman Sachs managing director was arrested and charged with raping a 20-year-old woman while on vacation in the up-market Hamptons resort in New York state.

The East Hampton Town Police arrested Jason Lee, 37, after responding to a disturbance at a house, the local police service said in a statement.

Lee was arrested on a charge of first-degree rape and was released on bail on Wednesday, the statement said.

The police did not name his employer, but his role at Goldman Sachs' New York office was confirmed to the New York Times by his lawyer Edward Burke Jr, who said Lee "adamantly denies the allegations."

Reuters independently verified that Lee works at Goldman Sachs.

A London-based spokeswoman for the bank declined to comment.

A police dispatcher told Reuters that East Hampton Chief of Police Edward Ecker was due to release a press statement around 9.00 a.m. EDT.

Burke told the New York Times his client is an "investment bank managing director who has never been in trouble in his life, never accused of any impropriety at all."

Lee was detained after officers learned that the unnamed woman had been sexually assaulted inside the residence where several people had gathered, the police statement said.

Lee was renting the home in East Hampton with his wife for the month of August but is no longer staying there, the Wall Street Journal said, citing Burke.

Lee was released after posting bail of $20,000 and is due back in court on September 19.

(Reporting by Krithika Krishnamurthy in Bangalore, Laura Noonan and Sinead Cruise in London; Editing by Erica Billingham)

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Goldman, Morgan Stanley in talks to buy stake in China's Huarong: FT

A visitor walks past the bank's logo prior to Deutsche Bank's annual news conference in Frankfurt February 2, 2012.

Credit: Reuters/Kai Pfaffenbach

HONG KONG | Fri Aug 16, 2013 5:28am EDT

HONG KONG (Reuters) - Deutsche Bank, Goldman Sachs (GS.N) and Morgan Stanley have held talks with China's Huarong Asset Management Corp to invest in its $1.5 billion stake sale ahead of the company's expected initial public offering next year, the Financial Times reported.

The interest of foreign banks in Huarong comes amid looming concerns of a surge in bad loans across China. A spike in non-performing loans would increase the demand for the services of China's asset management companies.

Huarong, established in 1999, is the biggest of the four funds that China's government set up to remove an estimated 1.4 trillion yuan ($230 billion) worth of bad loans from the country's top four state lenders.

Setting up these asset management companies allowed China's top four banks to shed their bad loans book and to list shares publicly, beginning roughly eight years ago.

Goldman Sachs, Morgan Stanley (MS.N) and Deutsche Bank (DBKGn.DE) declined to comment. Huarong could not be reached immediately.

Huarong plans to raise up to $2 billion by selling a stake of 15-20 percent, Reuters reported in June. The fund raising would set the table for an IPO, in a move similar to what Cinda Asset Management Corp, another bad loan vehicle created by China, is doing.

The FT, citing people close to the Huarong process, said in its report on Friday that the company would pursue a Hong Kong listing.

Huarong manages over 300 billion yuan of assets, and its net profit jumped 66 percent in 2012 to 6.96 billion yuan, according to its annual report.

Cinda raised $1.6 billion last year from investors including China's National Social Security Fund, Standard Chartered (STAN.L) and UBS (UBSN.VX). It has also started working on its IPO process.

(Reporting by Denny Thomas; Editing by Michael Flaherty and Himani Sarkar)

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Goldman, Morgan Stanley in talks to buy stake in China's Huarong: FT

A visitor walks past the bank's logo prior to Deutsche Bank's annual news conference in Frankfurt February 2, 2012.

Credit: Reuters/Kai Pfaffenbach

HONG KONG | Fri Aug 16, 2013 5:28am EDT

HONG KONG (Reuters) - Deutsche Bank, Goldman Sachs (GS.N) and Morgan Stanley have held talks with China's Huarong Asset Management Corp to invest in its $1.5 billion stake sale ahead of the company's expected initial public offering next year, the Financial Times reported.

The interest of foreign banks in Huarong comes amid looming concerns of a surge in bad loans across China. A spike in non-performing loans would increase the demand for the services of China's asset management companies.

Huarong, established in 1999, is the biggest of the four funds that China's government set up to remove an estimated 1.4 trillion yuan ($230 billion) worth of bad loans from the country's top four state lenders.

Setting up these asset management companies allowed China's top four banks to shed their bad loans book and to list shares publicly, beginning roughly eight years ago.

Goldman Sachs, Morgan Stanley (MS.N) and Deutsche Bank (DBKGn.DE) declined to comment. Huarong could not be reached immediately.

Huarong plans to raise up to $2 billion by selling a stake of 15-20 percent, Reuters reported in June. The fund raising would set the table for an IPO, in a move similar to what Cinda Asset Management Corp, another bad loan vehicle created by China, is doing.

The FT, citing people close to the Huarong process, said in its report on Friday that the company would pursue a Hong Kong listing.

Huarong manages over 300 billion yuan of assets, and its net profit jumped 66 percent in 2012 to 6.96 billion yuan, according to its annual report.

Cinda raised $1.6 billion last year from investors including China's National Social Security Fund, Standard Chartered (STAN.L) and UBS (UBSN.VX). It has also started working on its IPO process.

(Reporting by Denny Thomas; Editing by Michael Flaherty and Himani Sarkar)

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