Regional Outlook, Global Perspective

GOLDMAN CEO SAYS HE FEELS ‘HORRIBLE’ ABUT 1MDB BREACHES

Goldman Sachs Group Inc. Chief Executive Officer David Solomon said he felt “horrible” about the role former bank employees played in the scandal surrounding Malaysia’s 1MDB fund, Bloomberg reports. Prosecutors in the U.S. Attorney’s Office in Brooklyn announced last week that Tim Leissner, former partner for Goldman Sachs in Asia, had pleaded guilty involvement in the scandal, according to Reuters.    Roger Ng, the other charged former Goldman banker, was arrested in Malaysia at the request of US authorities and is expected to be extradited, according to the prosecutors. A 400-word disclosure from the investment bank signals the firm might be talking with prosecutors about a settlement, said William Garrett, content and data analytics manager for the Foreign Corrupt Practices Act Clearinghouse, as quoted by Financial News.

08/11/2018 in Daily Briefs, Malaysia, Regions

Comment

Your email address will not be published. Required fields are marked *