Regional Outlook, Global Perspective

ANWAR IBRAHIM CHASTISES GOLDMAN SACHS OVER 1MDB

Speaking to Bloomberg on Tuesday in an interview at the New Economy Forum in Singapore, Malaysia’s leader-in-waiting Anwar Ibrahim said it would be “inexcusable” if Goldman Sachs was complicit in the scandal surrounding 1Malaysia Development Berhad (1MDB). Reuters reported last week that Tim Leissner, former partner for Goldman Sachs in Asia, had pleaded guilty to conspiracy to launder money and conspiracy to violate the Foreign Corrupt Practices Act, and agreed to forfeit $43.7 million. The US charge sheet outlined a culture of greed at Goldman Sachs, according to Bloomberg. The bank, which arranged $6.5 billion of 1MDB bond offerings that netted it $600 million in fees is described as being so focused on deals at times that compliance came second.

07/11/2018 in Daily Briefs, Malaysia, Regions

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