DOJ Investigates ‘Mystery’ Goldman Executive Involved In $4.5 Billion 1MDB Fraud

by Thinker

Last week, the DOJ filed the first round of criminal charges related to the massive international fraud that was the 1MDB scandal. US prosecutors allege that more than $4.5 billion was embezzled from the sovereign wealth fund, which was set up by the government of disgraced former Prime Minister Najib Razak, eventually leading the ransacked government fund to a default on nearly $2 billion of local currency bonds, briefly denting the value of the Malaysian ringgit.

Holders of those bonds are still working on a restructuring deal with the fund. Meanwhile, former Goldman Sachs Southeast Asia Chief Tim Leissner has pleaded guilty to fraud charges and is expected to cooperate with authorities against other more-senior officials at the bank. One of his fellow bankers, Roger Ng, was arrested by Malaysian police and is expected to be extradited to the US. There’s little doubt that the scandal, which Goldman has, in typical Goldman fashion, tried to pin on a:
www.zerohedge.com/news/2018-11-0…1mdb-fraud

Things at Goldman haven’t changed much since the old days…crimes still going on and no one really being held accountable. Goldman…money first and people??? – How Corrupt is Goldman Sachs?

2016 – Subpoenas were issued to Goldman Sachs for its alleged connections to a global corruption ring, according to reports.

Goldman Sachs, a worldwide leading investment bank with ties to the 2008 banking crisis, faces subpoenas from the Securities and Exchange Commission (SEC) and the Department of Justice (DOJ) on Friday concerning its relationship with a Malaysian consortium at the heart of a global corruption scandal, reports the Wall Street Journal. Goldman has cooperated thus far with authorities, providing the necessary documents to both the SEC and the DOJ. In addition to the documents in question, authorities want to interview both current and former bank employees who have connections with the Malaysian group–1Malaysia Development Bhd (1MDB).

The investigation focuses on compliance with the US Bank Secrecy Act, an act that requires domestic financial institutions to “assist U.S. government agencies to detect and prevent money laundering.” Goldman is being investigated specifically regarding the $2.5 billion in profits it earned from 1MDB bond sales, which were “diverted from the fund to shell companies controlled by influential figures in Malaysia and Abu Dhabi,” reports the Wall Street Journal. It isn’t just U.S. authorities looking into the matter. Singapore’s central bank stated
dailycaller.com/2016/07/30/goldm…tion-ring/

Flashback 2013 – Goldman Clients Get the Shaft… AGAIN

Goldman Sachs CEO Lloyd Blankfein should be hung by his thumbs in a public square…

Because the climate he oversees at Goldman is completely void of common morals and ethics. This bunch of bloodsuckers would sell out their own mother if it meant they could put a couple bucks in their pocket. I know this may not come as a complete surprise, but the latest example of Goldman’s profit-mongering deceit is so blatant, so downright perverse, it’s almost comical. Almost.

I’m sure you’ve heard that Warren Buffett partnered with Brazilian private equity firm 3G Capital to buy out the Heinz (NYSE: HNZ) company for $24 billion. The deal was announced on Valentine’s Day. But as late as February 10, Goldman Sachs was telling its clients they should sell Heinz because:
www.wealthdaily.com/articles/how…sachs/3994

Related Posts:

If everyone who reads our story, who likes it, helps fund it, our future would be much more secure. For as little as $10, you can support the IWB – and it only takes a minute. Thank you. 640 views
Related Posts: