Also facing charges are canada goose outlet toronto factory

Posted by Roses on May 2, 2015
Categories: Uncategorized

Goldman Sachs Faces Charges In Malaysia Over Massive Corruption Scandal

bank Goldman canada goose canada goose outlet store uk Sachs canada goose coats is facing criminal charges in Malaysia in connection with a massive cheap Canada Goose corruption scheme known as the 1MDB scandal.

That scandal canada goose outlet involving billions of dollars allegedly siphoned from the “1MDB” development fund has already brought down Malaysia’s canada goose outlet new york city former prime minister. and Malaysian courts. They deny the allegations.

Now, for canada goose outlet parka the first time, Goldman cheap canada goose Sachs, which helped the fund’s administrators raise some $6.5 billion, faces charges canada goose outlet in connection to the probe.

Two former Goldman Sachs bankers, Tim Leissner and Roger Ng Chong Hwa, are among those facing new charges in Malaysia. Also facing charges are canada goose outlet toronto factory two Malaysians: Jasmine Loo Ai Swan, the fund’s former general counsel, and Jho Low, a financier who is believed to have masterminded the large scale fraud. Department of Justice. Leissner has pleaded guilty.

In a statement, Malaysia’s attorney general, Tommy canada goose clearance sale Thomas, says Goldman Sachs knew that the money raised would be “misappropriated and canada goose outlet uk canada goose outlet black friday fraudulently diverted” by corrupt Malaysian officials. The bank profited from unusually high fees for its work on the Malaysian fund, and employees and directors canada goose outlet sale “received large bonuses and canada goose uk outlet enhanced career prospects” as a result of their illegal actions, Thomas wrote.

The bank has denied any wrongdoing.

“We believe these charges are misdirected, will vigorously defend them and look forward to the opportunity to present our case,” Goldman Sachs said in a statement quoted by MarketWatch.

Goldman Sachs shares dropped noticeably following news of the charges.

Malaysia’s former Prime Minister Najib Razak created the state investment fund known as 1Malaysia Development Berhad or 1MDB, in canada goose outlet store 2009. The fund was supposed to canada goose outlet uk promote global canada goose black friday sale investment in Malaysia.

Multiple countries, including https://www.fanclub-fulton-smith.de the United States, are investigating the financial misconduct involved in the massive corruption scandal.

Leaked documents canada goose outlet online and journalists’ investigations brought the scheme to public attention in canada goose outlet shop 2015. But Najib quashed further examination of the financial dealings of the fund, and he remained Canada Goose Jackets in power for three more years.

 

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