13 Nov 2018
Malaysian Prime Minister Mahathir Mohamad said bankers at Goldman Sachs Group Inc (GS.N) “cheated” the country in dealings with state fund 1MDB and that U.S. authorities have promised to help return the fees the Wall Street bank earned from the fund.
The U.S. investment bank has been under scrutiny for its role in helping raise funds through bond offerings for 1Malaysia Development Bhd (1MDB), which is the subject of corruption and money-laundering investigations in at least six countries.
Goldman’s stock fell to a near two-year low on Monday after Malaysia’s Minister of Finance Lim Guan Eng said his country would seek a “full refund” of the around $600 million in fees the bank earned from raising $6.5 billion for the fund.
– By A. Ananthalakshmi, Joseph Sipalan and Aradhana Aravinda, REUTERS, 13 November 2018.
Link to Reuters.
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