Five-and-a-half years after the first public report that Goldman received extravagant fees for a straight-forward bond issue, the bank has acknowledged it was part of a crime.
"It is very clear that the people of Malaysia were defrauded by many individuals, including the highest members of the Malaysian government," said David Solomon, who oversaw his first earnings result as chief executive this week. "For Leissner's role in that fraud, we apologise to the Malaysian people."
Goldman Sachs insists it did nothing wrong, and was misled by its own staff, 1MDB and the Malaysian government, none of whom told the bank the money it raised was going to be stolen. Goldman Sachs doesn't intend to repay Malaysia a dime.
"Certain members of the former Malaysian government and 1MDB lied to Goldman Sachs, outside counsel and others about the use of proceeds from these transactions," a spokesman said.
No comments:
Post a Comment