Malaysian Scandal: US issues subpoenas to Goldman Sachs   

Goldman Sachs arranged for the bond sale, and has collected some $590 million commissions for its work


Afp July 30, 2016

NEW YORK: The US regulators have issued subpoenas to Goldman Sachs for documents showing the investment giant’s role in the 1MDB Malaysian bank merger scandal, a source told AFP on Friday. The subpoenas were issued a few months ago by investigators from the Department of Justice and Securities and Exchange Committee (SEC). The investigators also want to interview a Goldman Sachs employee over the bank’s role, said The Wall Street Journal, which first broke the story. The US officials want to know why Goldman Sachs did not report transactions deemed suspicious that involve funds raised by bond offerings worth $6.5 billion for 1MDB. Goldman Sachs arranged for the bond sale, and has collected some $590 million commissions for its work.

Published in The Express Tribune, July 31st, 2016.

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