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Sovereign Wealth Funds Briefing - Categorized | Compliance/Regulation/Legal, Financials

Goldman Entangled in Scandal at Malaysia Fund 1MDB : WSJ

Posted on 15 October 2015

Goldman Sachs’ actions as an adviser to Malaysia’s troubled sovereign wealth fund are being examined by U.S. authorities, The Wall Street Journal has reported. Citing unnamed sources, the WSJ wrote that Goldman was consulted on the creation of 1Malaysia Developmment Berhad (1MDB), and advised on three acquisitions and $6.5 billion bond sale by the fund. The bank’s fees for its work were far more than $350 million, according to the report.
The inquiries by the Federal Bureau of Investigation and the Department of Justice were at an early stage, sources told the WSJ, and there was no suggestion of wrongdoing by Goldman………………………………………..Full Article: Source


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