Goldman Sachs CEO says firm reflecting on how it hired, promoted ‘a criminal’ in 1MDB case
The person Solomon referred to was Tim Leissner, a Goldman partner who pleaded guilty to U.S. bribery charges in August for his role in helping raise funds through bond offerings for a Malaysian state investment fund known as 1MDB.
Goldman has been going through its worst scandal since the financial crisis as the fund is the subject of corruption and money-laundering investigations in at least six countries. It’s always been the bank’s defense that 1MDB is the result of a few bad employees, rather than something broader about firm or its culture.
Nope, couldn’t possibly be the culture.