 In January 2014, the Libyan Investment Authority (LIA) filed a lawsuit against Goldman for $1 billion after the firm lost 98% of the $1.3 billion the LIA invested with Goldman in 2007.Goldman made more than $1 billion in derivatives trades with the LIA funds, which lost almost all their value but earned Goldman $350 million in profit.In court documents the firm has admitted to having used small gifts, occasional travel and an internship in order to gain access to Libya's sovereign wealth fund.