Categories: world

Ex-Goldman Sachs Bankers Said Colleagues were involved in 1MDB Scandal

November 10, 2018 World 0 Views A former Goldman Sachs bank that helped orchestrate the robbery of a versatile dollar-Malaysian…

A former Goldman Sachs bank that helped orchestrate the robbery of a versatile dollar-Malaysian government investment fund told a federal judge that several other employees in the prestigious Wall Street company had also been involved, according to a court that left osealed Friday . 19659002] Banker Tim Leissner told the judge that he had “collaborated with other employees and agents of Goldman Sachs” in order to keep compliance and legal department officials discover that bribes and repayments were paid to help the bank secure more than $ 6 billion in bond work for investment fund, 1Malaysia Development Berhad.

During his guilty accusation in August, Leissner also said that his decision to hide his actions from Goldman’s compliance department was “much in line” with a broader culture at the company.

The recently released statements by Leissner were the latest indication of the extent of Goldman’s role in a scandal focused on looting more than $ 2.7 billion from an investment fund intended to benefit the people in Malaysia. Instead, the money funded the lively way of life for people who were affiliated with former Prime Minister Najib Razak, whom Malaysian authorities accused of corruption in July.

Mr. Leissner accused guilty of bribery and money laundering in Brooklyn on August 28th. An editorial transcript of the interrogation probe was released by federal prosecutors on Friday after Judge Margo K. Brodie in Brooklyn approved a lawyer request for The New York Times to lift a seal order on the procedure.

During the hearing, Mr. Leissner said that he and his unnamed colleagues hid the fund’s involvement with Jho Low, a flamboyant Malaysian financier, from Goldman’s compliance team. Mr Leissner said that Mr. Low served as an intermediary on Goldman’s behalf in connection with Malaysian officials and 1MDB.

“I and several other employees of Goldman Sachs also concealed that we knew that Jho Low promised and paid bribes and kickbacks to foreign officials to receive and maintain 1MDB business for Goldman Sachs,” he told Judge Brodie.

Mr. Low accused in October of foreign bribes and money laundering charges along with another former Goldman banker, Roger Ng.

The bank has said that it cooperated with the survey. A person familiar with the matter but not authorized to speak publicly, Goldman did not say about employee identities. Mr Leissner referred in his remark beyond himself and Mr. Ng.

Mr. Ng, as reported to Leissner, was arrested last week in Malaysia, and federal prosecutors are planning to apply for extradition to the United States. Mr Low, also wanted on criminal charges by Malaysian authorities, is a refugee.

Federal prosecutor revealed the charges against Mr. Low and Mr. Ng, along with a criminal information as Leissner claimed to be guilty of a week.

Mr. Leissner’s charge document described another Goldman executive as a companion in the mutation system. The bank has been identified by people familiar with the question of Andrea Vella, who last served as co-chief of Goldman’s investment banking group in Asia. He was interrupted by Goldman last week. Mr. Vella could not be reached for comments.

After prosecutors released details of their case last week, Goldman Sachs for the first time said in a regulation that it was expected to pay “significant fines” to resolve the investigation of its role in the 1MDB scandal. The bank made over $ 600 million in fees on the three bond agreements.

Until last week, Goldman had tried to portray his role as a victim of the acts of Leissner, whom the bank had thrown himself as a villain employee. The company left Mr Leissner on leave more than two years ago, after he discovered that he personally vouched for Mr. Lows character on Goldman stationery without the state of the bank.

Source link

Published by