The attorney general's office was tipped off by the fact that most of the auction-rate securities sold by Fidelity were underwritten by Goldman, according to a report from a source in
The Wall Street Journal.
Cuomo's office is leading the investigation for state and federal authorities after the auction securities market collapsed, leaving investors high and dry. Regulators have been forcing many Wall Street firms such as Citigroup Inc. and Merrill Lynch & Co. to repay customers.
- Maria WoehrSee Wall Street Journal storySee CNN report