Following the financial crisis in 2008, an investigation report has been pushed to the U.S. Justice Department and regulators (SEC) to decipher the punishment against the employees and executives of Goldman Sachs Group Inc. (GS) following serious charges of financial malpractices.

Moreover, Senator Carl Levin asserted that Goldman Sachs Chief Executive Officer, Lloyd Blankfein made an attempt to influence the decision of Congress in his favor and further, pressed the involved parties to subvert their decision.

Responding to the allegations made by Levin, Goldman Sachs Spokesman, Lucas van Praag reportedly refuted all the charges and further, assured the authenticity of subcommittee’s report.

The subcommittee has reportedly quizzed Blankfein last year about his alleged role in investing his client’s money in mortgage-related securities without disclosing the actual value of the investment instrument to the client. Reeling under the serious charges of financial crime, Blankfein refused to admit any allegation laid by subcommittee.

Amid this cross lashing, the senior Republican on the panel, Tom Coburn of Oklahoma, claimed that the final verdict on referring the subcommittee report to the federal government is still pending and moreover, recommends Levin to seek support from him to proceed with formal referrals.