Seventeen former and current Goldman Sachs
bankers have been charged in Malaysia over the corruption investigation at its
state development fund 1MDB.
Attorney General Tommy Thomas said custodial sentences and criminal fines
would be sought against those charged.
Goldman Sachs helped raise $6.5 billion through bond offerings for 1MDB.
The bank said it would “vigorously” defend the charges.
Tommy Thomas said in a statement: “Custodial
sentences and criminal fines will be sought against the accused.”
According to the statement, this was because of the “severity of the
scheme to defraud and fraudulent misappropriation of billions in bond proceeds,
the lengthy period over which the offences were planned and executed, the
number of Goldman Sachs subsidiaries, officers and employers involved and the
relative value of the fees and commissions paid to Goldman Sachs for their
multiple roles played in arranging, structuring, underwriting and selling the
three bonds”.
If convicted, those charged could face prison sentences of up to 10 years
and fines of at least one million ringgit ($238,000).
In December 2018, Malaysia filed criminal charges against Goldman Sachs and
two former employees in connection with the corruption and money-laundering
investigation at the fund, which is being investigated in at least six
countries.
Among the other individuals named by Malaysia’s attorney general are Michael
Sherwood, a former co-head of Goldman’s European operations, and Michael Evans,
a former partner who is now president of Chinese e-commerce company Alibaba.
The charges related to what is being seen as one of the world’s biggest
financial scandals.
US and Malaysian prosecutors have previously said that the money raised by
the state fund went to line the pockets of a few powerful individuals and to
buy luxury properties, a private jet, Van Gogh and Monet artworks – and to
finance a Hollywood blockbuster, The Wolf
of Wall Street, starring Leonardo DiCaprio, who has not been accused of any
wrongdoing.
These charges have been brought under the under a section of the Malaysian
Capital Markets and Services Act that holds certain senior executives
responsible for any offences that may have been committed.
Tim Leissner was Goldman’s South East Asia chairman, and left the bank in
2016.
Roger Ng was a managing director at Goldman until his departure in May 2014.
At the time, charges were also filed against local financier Low Taek Jho,
also known as Jho Low who maintains his innocence, and former 1MDB employee
Jasmine Loo Ai Swan.
Tim Leissner has pleaded guilty in the US to conspiring to launder money and
violating anti-bribery laws.
The 1MDB state fund was set up by former PM Najib Razak in 2009. He has been accusing of pocketing $681 million from the sovereign wealth fund and pleaded not guilty in April.
Former stockbroker Andrew Greene is suing the producers of Wolf of Wall Street for $25 million claiming he has been depicted as a “depraved” drug-fuelled criminal.
Andrew Greene has filed court papers in New York claiming the character Nicky “Rugrat” Koskoff is based on him.
He worked at Stratton Oakmont, the brokerage house founded by Jordan Belfort, played by Leonardo DiCaprio.
Paramount and Red Granite Pictures have not commented on the case.
Andrew Greene said his name was used in Jordan Belfort’s memoir, on which the film is based.
In the movie, Rugrat Koskoff – nicknamed for the toupee he wears – assumes significant control at Stratton Oakmont following Belfort’s resignation.
Andrew Greene is suing the producers of Wolf of Wall Street for $25 million claiming he has been depicted as a “depraved” drug-fuelled criminal
The role is played by actor PJ Byrne in the motion picture.
In the claim, Andrew Greene said he worked at Stratton Oakmont between 1993 and 1996 as the head of the firm’s corporate finance department and a member of the board of directors.
He alleges the film-makers – including director Martin Scorsese – changed the character’s name from “Wigwam” to “Rugrat”.
The papers, printed in The Hollywood Reporter, said: “The motion picture contains various scenes wherein Mr. Greene’s character is portrayed as a criminal, drug user, degenerate, depraved, and/or devoid of any morality or ethics.”
Andrew Greene has said he did not consent to his image, likeness and characterization being used in Wolf of Wall Street.
He has also claimed the movie contains libelous statements that have “permanently damaged” him by portraying him as a “criminal and drug user with misogynistic tendencies.
In one scene, the claim states, “investigators ask whether his hair is real. Characters are also seen attempting to grab the toupee.”
“Mr. Greene’s character is shown doing cocaine on company premises during business hours in another scene,” it adds.
TheWolf of Wall Street has been a major box office hit and has been nominated for five Oscars, including best picture and best actor for Leonardo DiCaprio.
The Hobbit: The Desolation Of Smaug has topped the US box office for a third week despite festive competition from The Wolf Of Wall Street.
The film took $30 million over the weekend, bringing its US total to $190 million.
Disney animation Frozen was at number two, switching places with Will Ferrell’s comedy Anchorman 2 at three.
Martin Scorsese’s Wolf of Wall Street was the biggest new release, at five.
Marking the director’s fifth collaboration with Leonardo DiCaprio, the black comedy is based on stock broker Jordan Belfort’s memoir of the same name.
The film took $19 million after opening at number two on Christmas Day with $9.15 million.
Analysts said it had suffered slightly due to its three-hour length – meaning it cannot be shown as many times in a day as its competitors.
The only other new entry in the top 10 was Keanu Reeves’ samurai film 47 Ronin, which weathered bad reviews to debut at number nine with $9.9 million.
Reuters reported that film company Universal had revised its profit estimates on Christmas Eve after it became apparent the film would not break even.
The Hobbit: The Desolation Of Smaug has topped the US box office for a third week despite festive competition from The Wolf Of Wall Street
With two days left to go, the North American Box Office is on track to beat last year’s record takings of $10.8 billion, said chart trackers Rentrak.
Rentrack estimated ticket sales would top $10.9 billion by the New Year, boosted by several award-friendly films in the Top 10.
Chief among them is American Hustle, which has already gained seven Golden Globe nominations.
Directed by David O. Russell, American Hustle stars Jennifer Lawrence and Bradley Cooper, who appeared in his Oscar-winning Silver Linings Playbook, alongside Amy Adams and Christian Bale, from the similarly-lauded Russell drama The Fighter.
North American box office Top 5:
1.Hobbit: The Desolation of Smaug – $30 million
2. Frozen – $28.9 million
3.Anchorman 2: The Legend Continues – $20.2 million
4. American Hustle – $19.6 million
5.The Wolf Of Wall Street – $19 million
Source: Rentrak
[youtube lfflhfn1W-o 650]
This website has updated its privacy policy in compliance with EU GDPR 2016/679. Please read this to review the updates about which personal data we collect on our site. By continuing to use this site, you are agreeing to our updated policy. AcceptRejectRead More
Privacy & Cookies Policy
Privacy Overview
This website uses cookies to improve your experience while you navigate through the website. Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may affect your browsing experience.
Necessary cookies are absolutely essential for the website to function properly. This category only includes cookies that ensures basic functionalities and security features of the website. These cookies do not store any personal information.
Any cookies that may not be particularly necessary for the website to function and is used specifically to collect user personal data via analytics, ads, other embedded contents are termed as non-necessary cookies. It is mandatory to procure user consent prior to running these cookies on your website.
