1MDB: Ex-Goldman Sachs banker found guilty for role in world’s biggest financial scandal 1MDB Scandal Former Goldman Sachs banker Roger Ng faces up to 30 years in prison after being found guilty on two separate counts of bribery and money laundering for his role in the multi-billion-dollar 1MBD scandal. A New York jury convicted Ng on two separate charges of conspiracy, after finding the banker guilty of taking part in [...]
Ex-Goldman Sachs banker Tim Leissner says he forged divorce documents twice following double bigamy allegations 1MDB Trial A former Goldman Sachs banker has admitted that he “photoshopped” divorce papers so that he could marry American model Kimora Lee Simmons, after being called a “double bigamist” during a trial of his former Goldman Sachs colleague Roger Ng over his role in the multi-billion-dollar 1MDB scandal. Tim Leissner, who admitted charges of bribery and [...]
1MDB Scandal: Trial of former Goldman Sachs banker Roger Ng put on hold after US fails to disclose documents 1MDB The trial of former Goldman Sachs banker Roger Ng, over his involvement in the multi-billion-dollar 1MDB scandal, has been put on hold, after it emerged the US Department of Justice (DoJ) had failed to hand over some 15,500 documents. The decision to pause the trial comes after US prosecutors admitted that a DoJ team had [...]
Ex-Goldman banker says he became a ‘hero’ for 1MDB deals, after embezzling billions from Malaysian government February 17, 2022 A Goldman Sachs banker, who made almost $700m (£515m) through his involvement in the 1MDB scandal, has said “greed and ambition” motivated him to embezzle billions from the Malaysian government, while testifying against Roger Ng, his former Goldman Sachs colleague. Speaking at a Brooklyn Court, Tim Leissner, the former head of Goldman’s Southeast Asia division, [...]
Out-of-court settlement in Malaysia: KPMG coughs up $80m to end global 1MDB scandal January 13, 2022 KPMG has paid $80m to the Malaysian government, in the form of an out-of-court settlement, after Malaysia sued the Big Four firm over the 1MDB scandal, which saw billions stolen from Malaysia’s state-backed 1MDB investment fund. The 1Malaysia Development Berhad (1MDB) scandal saw at least $4.5 bn channelled out of Malaysia’s 1MDB investment fund, by [...]
TfL funding crisis: UK Government agrees last-minute cash deal to keep Tube running until February December 17, 2021 Transport for London (TfL) tonight announced it had reached another short-term stop-gap funding deal with central government to fund the capital’s transport network until early February. Andy Byford, London’s transport commissioner, said: “The Government has today confirmed an extension of its funding support for TfL through until 4 February, for which we are grateful. The Mayor [...]
Smiths Group shares jump after it gets ‘superior’ £1.75bn offer for medical unit September 8, 2021 FTSE-100 tech company Smiths Group was among the biggest gainers today after it agreed to sell its medical unit to ICU Medical for around £1.75bn. Smiths could also bank a $100m bonus from the deal, dependant on the ICU Medical’s future share price. It led Smiths to recommend shareholders back the new “superior” offer instead [...]
Afghanistan’s former communications is now a bike courier in Germany August 29, 2021 Sayed Sadaat used to be communications minister in the Afghan government before moving to Germany last September in the hope of a better future. Watch the full report.
1MDB and Malaysia sue 44 KPMG partners for $5.6bn July 9, 2021 Malaysia govt, its Ministry of Finance and 1MDB are suing 44 KPMG Malaysia partners in a $5.64bn suit for their part in auditing the state investment fund. The lawsuit, which was filed earlier this week, accused KPMG of committing breaches of contract and negligence in its audit and certification of 1MDB’s financial statements for the [...]
Malaysia’s 1MDB launches legal bid to recover $23bn in assets after fraud scandal May 10, 2021 Malaysian state fund 1Malaysia Development Berhad (1MDB) has launched a legal bid to recover $23bn (£16.3bn) in assets following a fraud scandal that rocked the southeast Asian country. Malaysia and US state investigators estimate at least $4.5bn was stolen from 1MDB between 2009 and 2014 in a corruption scandal that has implicated former prime minister [...]