Goldman boss apologises for 1MDB scandal
Goldman Sachs new boss has apologised to Malaysia for the role an ex-partner played in the corruption scandal at one of the country's wealth funds.
However, chief executive David Solomon also distanced the bank from the scheme, which saw billions embezzled from the state development fund, 1MDB. He said Goldman, which had helped to raise money for the fund, had been deceived about details of the deals.
Malaysia filed criminal charges against Goldman last month. It accused the investment bank of helping to misappropriate money intended for the fund. The US and other countries are also investigating its role.
Explainer: 1Malaysia Development Berhad scandal.
Also at CNN.
(Score: 2, Offtopic) by realDonaldTrump on Thursday January 17 2019, @06:25AM
I was very honored by a visit from Prime Minister Razak of Malaysia. He's in charge of 1Malaysia, he's made a lot of money from that one. He's also in charge of Malaysia Airlines. One of the biggest airlines. And, he has tremendous pull with AirAsia. I made deals with him that are great for our Country. Because they're great for Boeing. And great for General Electric. Where AirAsia will buy some of those amazing GE engines, the airplane engines. And Malaysia Airlines possibly will buy 25 or even 50 Boeing 737 MAX 10's. And 8 787 Dreamliners. We love our Dreamliners, don't we? Look, you're so lucky to have the privilege of having me to make deals for you. These are very large trade deals. Not Saudi big. But, they're in the billions. So important for our economy. We carved out a home in the New World, gave birth to the Modern World, and we will shape Tomorrow's World with the strength and skill of American hands. For America the sky is never the limit!
Also, the Prime Minister does not do business with North Korea any longer, and we find that to be very important. He has a major role in not allowing I. S. I. S. -- otherwise known as Daesh -- and others to exist. And he’s been very, very strong on terrorism in Malaysia, and a great supporter from that standpoint. So that’s a very important thing to the United States. Tremendous number of Muslims in Malaysia. We don't want the Radicals coming over here. He's moving strongly on them on that side. So we haven't had to do the Travel Ban. And hopefully that can continue.