Financial giant Goldman Sachs is reportedly taking legal action against unrelated bankruptcy experts who run a vice-company called “Goldman Sachs Capital LLC.”
The Wall Street Journal reports that 40-year-old Arian Egbari registered Goldman Sachs Capital with the California Secretary’s Office in 2022 and named himself as the company’s CEO in 2024.
Actual Goldman Sachs spokesman Nick Carcatella tells the WSJ that Eghbali is not working for the financial giant taking action regarding the use of the name.
Egbari reportedly represents trade creditors through his Olympus guardians and has been involved in many cases related to well-known companies such as Forever 21, Hooters and Virgin Orbit.
The California businessman registered Goldman Sachs Capital with the WSJ because he thought he was embarking on a business venture he thought would receive funds from actual Goldman Sachs.
The venture never materialized. Egbari has since used LLC to maximize employee retention credits (ERCs) and maximized reimbursable tax credits designed to encourage employers to retain employees during the pandemic.
However, Carcaterra tells the WSJ that Eghbali’s reasoning to register Goldman Sachs Capital does not follow logic.
A representative from the California Secretary’s Office told WSJ it would not regulate brand or intellectual property issues and would only cross-check registrations for names already in the system, not national brands.
Generated Image: Midjourney
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