15.06.2016 - Former Goldman Sachs executive denies paying for 'improper entertainment' in LIA case
A Goldman Sachs executive at the centre of a $1.2 billion (£850 million) claim brought by Libya's sovereign wealth fund has denied allegations he paid for "improper entertainment" for himself and the younger brother of a key decision-maker at the fund on a business trip. Youssef Kabbaj, a former Goldman Sachs sales team executive, also said that all his expenses linked to the Libyan Investment Authority (LIA) had always been signed off by at least two senior partners at the bank and fully reimbursed by Goldman. In a trial at London's High Court that began on Monday, the $67 billion LIA is attempting to claw back $1.2 billion from nine trades it carried out with Goldman Sachs in 2008...............................................Full Article: Source
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