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Goldman Sachs apologises to Malaysia over multi-billion dollar scandal

33 10 15

GOLDMAN SACHS has issued an apology to the Malaysian people for one of its former banker’s role in the 1Malaysia Development Berhad (1MDB) sovereign state fund scandal.

The banks Chief Executive Officer David Solomon, however, said the bank had conducted due diligence before every transaction which amounted to billions of dollars.

Malaysian authorities and the US Department of Justice have launched investigations against the bank for its roles as underwriter and arranger of three bond sales that raised US$6.5 billion for 1MDB.

SEE ALSO: Goldman Sachs ‘cheated’ Malaysia on 1MDB, says PM

Last year, US prosecutors charged two former Goldman........

© Asian Correspondent