Regional Outlook, Global Perspective

GOLDMAN SACHS BANKERS ‘CHEATED’ MALAYSIA: MAHATIR

Bankers at Goldman Sachs Group Inc “cheated” Malaysia in dealings with state fund 1MDB, Prime Minister Mahathir Mohamad said in an interview with U.S. news channel CNBC aired on Tuesday. The bank’s compliance control “don’t work very well”, he added. Shares of Goldman Sachs capped their worst day since 2011 on Monday after Finance Minister Lim Guan Eng said his country would seek a full refund of the fees the bank earned from 1MDB deals. Earlier this month US prosecutors unveiled criminal charges against a Malaysian financier and two former Goldman Sachs bankers in connection with the multi-billion dollar scandal.

14/11/2018 in Daily Briefs, Malaysia, Regions

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