Four years on, the fallout from the 1MDB scandal continues. A key conspirator has agreed to forfeit up to $900 million in assets. Malaysian investigators just alleged that the country’s ex-premier approached prosecutors and foreign royalty about a cover up.… Continue Reading
Goldman Sachs CEO David Solomon recently made headlines with his statement at the annual World Economic Forum meeting in Davos, Switzerland. “Starting on July 1 in the United States and Europe we are not going to take a company public unless there’s at least one diverse board candidate, with a focus on women,” Mr.… Continue Reading
Both the Financial Times and Fortune named Billion Dollar Whale the Best Book of 2018. It’s the story of how Goldman Sachs helped Jho Low steal more than $5 billion from the Malaysian sovereign wealth fund, 1MDB.… Continue Reading
In a filing with the SEC, Goldman Sachs said 2018 equity-based pay awards would be subject to clawbacks depending on the results of the 1MDB investigations.
According to the filing, Chairman and CEO David Solomon received $23 million in total 2018 annual compensation.… Continue Reading
Academy Award winning actor Leonardo DiCaprio appeared covertly before a Washington, D.C. grand jury to testify as part of the DOJ’s investigation into the looting of Malaysian sovereign wealth fund 1MDB.… Continue Reading
It was a breakout year for compliance officers and compliance professionals, making them the big story of 2018. As I said mid-year, they’re rock stars now, famous and wanted.
Some stories about them from the FCPA Blog during 2018:
Alstom appointed a compliance officer, Sylvie Kandé de Beaupuy of Airbus, to its board of directors.… Continue Reading
The day after the DOJ announced FCPA and money-laundering conspiracy charges against Jho Low and two former Goldman Sachs bankers, Goldman itself published an update about the 1MDB case and ongoing investigations.… Continue Reading
The former chairman of Goldman Sachs in Southeast Asia pleaded guilty to FCPA and money laundering conspiracies in connection with a plot to loot the Malaysian sovereign wealth fund 1MDB.
Banking giant Credit Suisse Group AG said Wednesday the DOJ and SEC are investigating its hiring practices in the Asia Pacific region.
The agencies want to know whether Credit Suisse hired referrals from government agencies and other state-owned entities “in exchange for investment banking business and/or regulatory approvals,” according to a fourth-quarter earnings release.… Continue Reading