Hong Kong fines Goldman unit $350 million over 1MDB

05:59 Fri, 05 March

GEO

USD

$ 3.3190

EUR

€ 3.9977

GBP

£ 4.6250

RUB

₽ 0.0450

TRY

₺ 0.0044

AZN

₼ 0.0195

Bitcoin

46,797.2000

Ethereum

1,476.7800

Bitchoin Cash

487.9950

Litecoin

172.1440

XRP

0.4600

22.Oct .2020 13:45

Hong Kong fines Goldman unit $350 million over 1MDB

133

Back

Hong Kong’s markets watchdog has fined Goldman Sachs (Asia) L.L.C. $350 million for its role in Malaysia’s 1MDB scandal – Reuters reports.

According to Reuters, the Securities and Futures Commission said the Goldman Sachs GS.N unit had made serious lapses and there were deficiencies in its management controls that contributed to the misappropriation of $2.6 billion from funds raised by 1Malaysia Development Berhad (1MDB) in three bond offerings in 2012 and 2013.

Authorities said billions of dollars were ultimately embezzled to buy art, property, a private jet and super-yacht - and even to help finance the Wolf of Wall Street film, starring Leonardo DiCaprio.

Goldman Sachs