Goldman Sachs finds "alarming" corruption charges against former employees

Goldman Sachs finds "alarming" corruption charges against former employees

New York – David Solomon, the new CEO of Goldman Sachs, Wednesday "alarming" allegations of corruption and money laundering against two former employees of the bank in the vast corruption scandal involving the former prime minister The Malaysian Minister Najib Razak.

The US Department of Justice last week filed criminal charges, including two former Goldman Sachs bankers, for accepting while still working for the study with the Malaysian financier Low Taek Jho to recycle "billions of dollars" allegedly hijacked from the Malaysian public investment fund 1Malaysia Development Berhad (1MDB).

"It is clearly very alarming to see that two former Goldman Sachs employees have flagrantly bypassed our rules and shamelessly violated the law," said Solomon, whose first case sensitive only a month after arriving at the controls, during an interview with Bloomberg TV.

US authorities accuse 48-year-old Tim Leissner, former head of Goldman Sachs in Southeast Asia, and his former Malaysian colleague Ng Chong Hwa, 51, for violating US anti-corruption laws (FCPA). pay or promise bribes to Malaysian and Abu Dhabi officials to keep Goldman Sachs as a consulting bank in lucrative transactions.

Andrea Vella, an Italian citizen and co-chairman of the investment banking division of Goldman Sachs in Asia, was fired in October by the firm.

"The corporate culture (at Goldman Sachs), and more particularly in Southeast Asia, was very focused on obtaining contracts and, sometimes, this goal exceeded regulatory requirements," the State Department denounced. United States.

– Promoting minorities –

In a document sent on Friday evening to the Constable of the Stock Exchange (SEC), Goldman Sachs stated that he was the subject of a criminal investigation by the Ministry of Justice, which could lead to "the imposition of fines and significant penalties and other sanctions against the company ".

This case comes at the wrong time for Mr. Solomon, who wants to shake and change the face of Goldman Sachs by giving an important place to minorities.

On Wednesday, 69 new rulers were created, 26% of whom are women, 20% of Asians and 6% of blacks.

This status, one of the most sought after accesses on Wall Street, gives rise to great responsibilities and considerable privileges, including a base salary of almost one million dollars and a desk with a window.

Approximately 1.33% (488) of the 36,600 Goldman Sachs employees earn partner status every two years from the company, the only company on Wall Street to retain this unique promotion. In 2016, 84 employees were promoted.

The new class is dominated by traders (28), although the balance of power has changed within the institution to the benefit of business bankers, which make up only 21% of new associated.

Lo / jum / la

GOLDMAN SACHS GROUP

(© AFP / 07 November 2018 20h50) <! –

(AFP / 07.11.2018 23:06)
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