Goldman Sachs in Sex Trafficking Controversy


Goldman Sachs in Sex Trafficking Controversy

Repost: By Stephen Cook

Stephen: For the past 12 years, Goldman Sachs’ private equity
fund GS Capital Partners III has owned 16 per cent of Village Voice
Media (VVM), which apparently facilitates underage sex trafficking
through its website, Backpage.com.
(If you’ve read David Wilcock’s entire Financial Tyranny investigation,
you may not feel this is surprising. In his report, David clearly
pointed out the links between the Illuminati and unconscionable
under-age sexual practices…)
While it did make some moves to sell its stake in VVM in 2010, Goldman
Sachs moved “with record speed” this week, deftly unloading its entire
12-year-old holding in VVM after NY Times columnist Nicholas Kristof
started investigating the media company’s interests.

Goldman Fund Exits Village Voice’s Sex Advert Site

By Reuters reporters

April 2, 2012

http://www.firstpost.com/world/goldman-fund-exits-village-voices-sex-advert-site-262693.html

NEW YORK, April 1 (Reuters) – A private equity fund run by Goldman
Sachs Group Inc, under fire over its business ethics, has agreed to sell
back its stake in a media company that critics say facilitates sex
trafficking.

GS Capital Partners III on Friday signed a deal to sell its 16
percent stake in Village Voice Media, which owns the website
Backpage.com, back to management, a Goldman spokeswoman said Sunday.

The divestiture is the latest development in a growing controversy
over online adult advertising that has pitted celebrities, law
enforcement officials, members of Congress and a New York Times
columnist against Village Voice Media, a private media company that has
the largest share of revenue in the United States from online
advertising of adult services.

The fund began negotiations with Village Voice Media in March, after
deciding in 2010 that it had grown “uncomfortable with the direction of
the company,” and Goldman’s inability to influence its operations, said
Andrea Raphael, a Goldman Sachs spokeswoman.

Raphael said the fund invested $30 million in the Village Voice in
2000. The investment was converted into a 16 percent minority stake when
the Village Voice merged with New Times Inc in 2006. She declined to
disclose the sale price, but said the fund lost the “vast majority” of
its investment.

Elizabeth McDougall, general counsel for Village Voice Media, said on
Sunday that the media company has no plans to shut down its adult
advertising section of Backpage.com.

Some critics claim that Backpage.com facilitates the trafficking of
underage prostitutes and sex slaves, although others question that….

Read Full Article Here:  http://the2012scenario.com/2012/04/goldman-sachs-in-sex-trafficking-controversy/


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