The US has indicted two former Goldman Sachs bankers, accusing them of working with a Malaysian financier to siphon billions of dollars out of his country’s sovereign wealth fund, 1MDB.
The charges brought by the justice department yesterday were the first to result from a federal investigation that has raised questions over the extent of corruption in Malaysia and the culture and controls of the Wall Street bank.
Goldman also placed Andrea Vella, a current emp-loyee and former co-head of investment banking in Asia, on leave, according to a person familiar with the matter. Mr Vella could not be reached for comment. Goldman said it was “reviewing the filings”.