Mainstream
What next for Goldman Sachs?
Emmanuel Samarathisa | 30 Nov 2018 00:30
Malaysia is bent on seeking restitution from US-based Goldman Sachs Inc (GS) over the investment bank’s role in the financial scandal involving 1Malaysia Development Bhd (1MDB), the state investment fund.

Touted to be one of the largest financial scandals in history, the 1MDB saga has brought intense scrutiny on a few individuals, including former prime minister Datuk Seri Najib Razak, his family and associates. It has also sparked a worldwide probe across six countries including Singapore, Switzerland and Hong Kong.

Prime Minister Tun Dr Mahathir Mohamad recently told American business news channel CNBC that his administration will be monitoring the 1MDB investigations on GS led by the US Department of Justice (DoJ).

Eye on the probe
“We are watching. Of course, there is evidence that Goldman Sachs has done things which were wrong. They shouldn’t have done that. But we want to see the results of all these investigations and the actions taken against Leissner, for example,” he was quoted as saying in a Nov 12 televised interview.

Mahathir was referring to former GS banker Tim Leissner who recently pleaded guilty in a US court for conspiring to launder money and violating the US Foreign Corrupt Practices Act in relation to 1MDB.

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