Former Goldman Sachs CEO Lloyd Blankfein is accused of continuing deals with fugitive businessman Low Taek Jho despite repeated warnings.
It alleged that everyone from the top down at the bank was aware of the role played by Low, better known as Jho Low, in the 1MDB scandal. “Goldman underwrote US$6.5 billion of 1MDB debt in three rapid-fire offerings that were awarded without any bidding process, netting the bank an astronomical US$600 million in fees – 200 times the typical sum for such deals.
The suit also said the bank leadership had lied to and misled its shareholders until as recently as December 2018, some seven months after Najib’s fall from grace. It said Jho Low sought help from Goldman to tap into the international stock market with the International Petroleum Investment Company as guarantor.
If you guys want the real skinny on Sachs - you should see my SEC whistleblower complaint - filed last week!
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