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Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsGoldman Sachs banker embroiled in massive overseas money scandal
I know who would have thought that about Goldman Sachs............LOL
IGoldman Sachs cozy relationship with the Malaysian government is coming back to haunt the firm and one of its regional chairmen.
The fallout from the widening scandal hitting the white-shoe investment bank involves Tim Leissner, the Singapore-based chairman of Goldmans Southeast Asia operations, who has left that country and relocated to Los Angeles on a leave of absence from the firm.
A state fund 1Malaysia Development Berhad (1MDB) was set up with Leissners assistance, and Goldman was paid sky-high commissions for bond sales. Then $681 million tied to the fund mysteriously turned up in the bank account of Malaysian Prime Minister Najib Razak.
The FBI is reportedly investigating all the funds transactions in concert with wider probes of money-laundering allegations spanning five countries.
These probes could force Goldman to face the wrath of a congressional inquiry, according to one legal expert.
Leissner, 45, who is married to Kimora Lee Simmons, the former wife of hip-hop mogul Russell Simmons, lives a jet-setting lifestyle.
Kimora Lee, a businesswoman, designer and former model, last year opened a fashion boutique on tony Beverly Drive in Los Angeles.
http://nypost.com/2016/02/13/goldman-sachs-banker-involved-in-a-massive-overseas-money-scandal/
Katashi_itto
(10,175 posts)Myrddin
(327 posts)...very appropriate.
Would work very well as Vichy Labour in UK.
Vichy = Cheese eating Surrender Monkeys!
So often applied to all French; which is not only unfair, but offensive to the very brave, who fought without the protection of a uniform.
Katashi_itto
(10,175 posts)A very unfair thing.
Enthusiast
(50,983 posts)Katashi_itto
(10,175 posts)Enthusiast
(50,983 posts)Helen Borg
(3,963 posts)will be at the center of the next global meltdown.
Enthusiast
(50,983 posts)warrprayer
(4,734 posts)You're putting me on, right?
Well, you are, aren't you?
Hortensis
(58,785 posts)IDemo
(16,926 posts)The horror!
monicaangela
(1,508 posts)The look on their faces says it all. We own you and you know it.....Where is the meeting after this farce? How much are we going to have to donate to your campaign this year? Oh wait...you still owe us a favor.
Enthusiast
(50,983 posts)Ichingcarpenter
(36,988 posts)It was biggest, brown-nosing.sycophantic ass kissing ever displayed on the planet never mind the Senate.
Enthusiast
(50,983 posts)monicaangela
(1,508 posts)As you have said....surprise, surprise, surprise... Of course the investigation will go nowhere, and he will never go to jail, or will he? Let's hope.
Glassunion
(10,201 posts)legal expert"
I'm gonna call Bravo Sierra on that statement.
1. There is no wrath in a congressional inquiry, especially when a major financial firm is involved.
2. Is this "legal expert" really an expert? Don't they know how our legal system really works with these financial institutions?