Goldman Sachs CEO: ‘Very distressing’ that former bankers ‘broke the law’ in 1MDB case

US prosecutors filed criminal charges against the two former Goldman bankers involved in the 1MDB case. (Reuters)
Updated 07 November 2018
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Goldman Sachs CEO: ‘Very distressing’ that former bankers ‘broke the law’ in 1MDB case

  • US prosecutors filed criminal charges against the two former Goldman bankers

SINGAPORE: Goldman Sachs Chief Executive David Solomon said on Wednesday it was “very distressing” that two former employees “blatantly broke the law” in their dealings with Malaysian state fund 1MDB.
US prosecutors filed criminal charges against the two former Goldman bankers and a Malaysian financier over the alleged theft of billions of dollars from the fund.
“It is obviously very distressing to see two former Goldman Sachs employees went so blatantly around our policies and so blatantly broke the law,” Solomon said in an interview with Bloomberg TV in Singapore.
“I feel horrible about the fact that people who worked at Goldman Sachs, and it doesn’t matter if it’s a partner or it’s an entry level employee, would go around our policies and break the law,” Solomon said.


Iraq cuts oil exports in line with OPEC deal: minister

Updated 26 min 30 sec ago
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Iraq cuts oil exports in line with OPEC deal: minister

  • An OPEC meeting in Vienna in April would assess member states’ compliance with agreed production cuts
BAGHDAD, March 14 : Iraq has cut its oil exports average to 3.5 million barrels per day in compliance with an ongoing production curb agreement, its oil minister said on Thursday.
Thamer Ghadhban told reporters an OPEC meeting in Vienna in April would assess member states’ compliance with agreed production cuts and whether to extend the curbs until the end of the year.
Iraq is committed to the deal and working to stabilize markets, he said. (Reporting by Ahmed Rasheed; Writing by John Davison; Editing by Mark Potter)