Trading under the influence of Goldman Sachs can be dangerous and costly, Libya’s sovereign-investment fund alleged in a lawsuit filed with London’s High Court last week.

Working with advisers from Goldman Sachs, the fund, the Libyan Investment Authority, claims that the bank pushed the fund into $1 billion in “highly speculative gambles” in 2008 that became essentially worthless within less than a year.

Goldman Sachs, however, walked away with roughly $350 million in profits from executing these trades on behalf of the fund, the lawsuit says.