Sunday , May 16 2021

Details of the 1MDB Fraud Fraud Blankfein



Lloyd Blankfein

Lloyd Blankfein, Goldman Sachs' senior chairman, speaking at a New York bank conference, asked why he had met with a controversial businessman, although he was apparently warned by his bank.

(Photo: AFP)

New YorkIn fact, Lloyd Blankfein ran after Goldman for 12 years, now enjoying his retirement and without rushing to check what public tasks he wants to take over in the future. But only a few weeks after the change in the head of investment bank Blankfein returns to the headlines.

At the center of the question is what he knew about the fraud scandal over the Malaysian government capital fund 1MDB. Last week, the US Department of Justice filed a lawsuit against two former Goldman bankers, Tim Lissner and Roger Ng, as well as a controversial Malaysian businessman.

Blankfein said that twice attended meetings like Goldman's boss, where Lowe was present, the American media agreed. According to Blankfein, he first met with Malaysian Prime Minister Najib Razak for the first time in 2009 in New York. The meeting was said to have been prepared by Lissner and Ng and Razak is said to be accompanied by a low.

In 2013, Blankfein is said to have brought together around 20 important clients of the bank with the Prime Minister of Malaysia. In a meeting in New York Low should also be present. As the Wall Street Journal reports, Goldman's compliance department has already warned against doing business with Lowe at the time.

Low is at the center of scam scandal around the royal foot fund Malaysia Wealth 1MDB, which said that lost billions of dollars. The US State Prosecutor's Office has accused Luo, Leisenner of laundering money and bribing foreign officials, and the German-German lyschner has already pleaded guilty, Goldman was initially inaccessible.

The investment bank has spent more than $ 6 billion of bonds for 1MDB in 2012 and 2013, collecting around $ 600 million in fees.Good three billion dollars are stolen by Low, Leissner and Ng, according to US prosecutors.

As announced on Friday, Lissner also strongly accused Wall Street's corporate culture during his accusation. He repeatedly denied the compliance department that Low played a role in 1MDB transactions.

But it "coincides with Goldman Sachs' culture of hiding certain facts and compliance with legal personnel," said Lissner in Brooklyn court in late August. The protocol was released only on Friday.

Blankfein, who was Goldman's chief executive until the end of the year, reduced the scandal last week: "These guys avoided our defenses and lied to us. Such a thing could happen, "he told a New York Times conference.


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