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Goldman Sachs Group Inc. didn't dupe Libyan officials into investments that lost $1.2 billion, a London court ruled, putting to rest claims that the bank leveraged its reputation as well as lavish meals and prostitutes to win the country's sovereign wealth fund's trust. The investment bank wasn't in an advisory relationship with the Libyan Investment Authority, Judge Vivien Rose said Friday in London. The Libyan Investment Authority, a $60 billion oil wealth fund set up under former dictator Moammar Qaddafi, sued Goldman Sachs, saying it was misled into signing derivative deals it never properly understood.
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