Goldman Sachs Sued by Spain’s J. Garcia Carrion Over Forex Deals

Spanish winemaker, J. Garcia Carrion SA, is suing Goldman Sachs Group Inc. in a criminal court over the sale of derivatives contracts the firm used to manage its foreign exchange exposure.

The U.S. firm “deficiently commercialized speculative derivatives to a non-expert client,” taking advantage of the disloyal behaviour of a former executive, the Spanish firm said in a statement Thursday. The bank presented itself in the court in the southern Spanish city of Jumilla, according to the statement.

The criminal procedure is part of a broader scandal involving at least three banks and allegations by several Spanish companies that they ...