Goldman Sachs Charged in Foreign Bribery Case and Agrees to Pay Over $2.9 Billion

White House petition to investigate Gates foundation garners more than 600,000 signatures

A White House petition that was launched in April to investigate Bill and Melinda Gates for “crimes against humanity and medical malpractice” has amassed...

Trump Says ‘America Will Never Relent in Pursuing Terrorists’ in 9/11 Ceremony

President Donald Trump on Friday remembered the Sept. 11, 2001, terrorist attacks at the crash site of United Airlines Flight 93 in Shanksville, Pennsylvania, saying...

FBI Obtained Hunter Biden Computer, Data on Ukraine Dealings

The FBI seized a laptop computer and a hard drive that had emails addressed to Hunter Biden and photographs of Democratic presidential nominee Joe Biden’s son, according to...

$21 Million NYC Field Hospital Closes After Never Seeing a Single Patient

A Brooklyn field hospital closed without seeing any patients, city officials confirmed this week. New York City Mayor Bill de Blasio (D) announced the construction...

Hollywood Producer Who Was Part Of Jeffrey Epstein’s “Lolita Express Circle” Dead – Falls Off 27th Floor Of Building

I’m sure this is just a coincidence, right? Just prior to the arrest of Ghislaine Maxwell this week, Hollywood producer and long time friend...

The Goldman Sachs Group Inc. (Goldman Sachs or the Company), a global financial institution headquartered in New York, New York, and Goldman Sachs (Malaysia) Sdn. Bhd. (GS Malaysia), its Malaysian subsidiary, have admitted to conspiring to violate the Foreign Corrupt Practices Act (FCPA) in connection with a scheme to pay over $1 billion in bribes to Malaysian and Abu Dhabi officials to obtain lucrative business for Goldman Sachs, including its role in underwriting approximately $6.5 billion in three bond deals for 1Malaysia Development Bhd. (1MDB), for which the bank earned hundreds of millions in fees.  Goldman Sachs will pay more than $2.9 billion as part of a coordinated resolution with criminal and civil authorities in the United States, the United Kingdom, Singapore, and elsewhere.

Goldman Sachs entered into a deferred prosecution agreement with the department in connection with a criminal information filed today in the Eastern District of New York charging the Company with conspiracy to violate the anti-bribery provisions of the FCPA.  GS Malaysia pleaded guilty in the U.S. District Court for the Eastern District of New York to a one-count criminal information charging it with conspiracy to violate the anti-bribery provisions of the FCPA.

Previously, Tim Leissner, the former Southeast Asia Chairman and participating managing director of Goldman Sachs, pleaded guilty to conspiring to launder money and to violate the FCPA.  Ng Chong Hwa, also known as “Roger Ng,” former managing director of Goldman and head of investment banking for GS Malaysia, has been charged with conspiring to launder money and to violate the FCPA.  Ng was extradited from Malaysia to face these charges and is scheduled to stand trial in March 2021.  The cases are assigned to U.S. District Judge Margo K. Brodie of the Eastern District of New York.

In addition to these criminal charges, the department has recovered, or assisted in the recovery of, in excess of $1 billion in assets for Malaysia associated with and traceable to the 1MDB money laundering and bribery scheme.

“Goldman Sachs today accepted responsibility for its role in a conspiracy to bribe high-ranking foreign officials to obtain lucrative underwriting and other business relating to 1MDB,” said Acting Assistant Attorney General Brian C. Rabbitt of the Justice Department’s Criminal Division.  “Today’s resolution, which requires Goldman Sachs to admit wrongdoing and pay nearly three billion dollars in penalties, fines, and disgorgement, holds the bank accountable for this criminal scheme and demonstrates the department’s continuing commitment to combatting corruption and protecting the U.S. financial system.”

“Over a period of five years, Goldman Sachs participated in a sweeping international corruption scheme, conspiring to avail itself of more than $1.6 billion in bribes to multiple high-level government officials across several countries so that the company could reap hundreds of millions of dollars in fees, all to the detriment of the people of Malaysia and the reputation of American financial institutions operating abroad,” said Acting U.S. Attorney Seth D. DuCharme of the Eastern District of New York.  “Today’s resolution, which includes a criminal guilty plea by Goldman Sachs’ subsidiary in Malaysia, demonstrates that the department will hold accountable any institution that violates U.S. law anywhere in the world by unfairly tilting the scales through corrupt practices.”

Continue Reading

Source: Justice.gov

Hot Topics

Hollywood Producer Who Was Part Of Jeffrey Epstein’s “Lolita Express Circle” Dead – Falls Off 27th Floor Of Building

I’m sure this is just a coincidence, right? Just prior to the arrest of Ghislaine Maxwell this week, Hollywood producer and long time friend...

Federal Judge Rejects Additional Discovery in Case Concerning Hillary Clinton’s Emails

A federal judge in Washington, D.C. on Friday denied a request for additional discovery in a lawsuit concerning Hillary Clinton's use of a private...

Ten people, including a candidate, arrested in Tallahassee on variety of child sex crimes

At least 10 people — including a local write-in candidate — were arrested on charges ranging from lewd and lascivious behavior with a child...

Related Articles

Over 432,000 Votes Removed From Trump in Pennsylvania, Data Scientists Say

Pennsylvania election data shows that over 432,000 votes were removed from President Donald Trump during the November election, data scientists say. According to an analysis by...

Dem Rep. ends congressional prayer with ‘Amen and awomen’

Rep. Emanuel Cleaver, D-MO, opened the 117th Congress with a prayer that ended with an attempt to bring in more gender-inclusive language. The Democratic lawmaker,...

Pentagon orders USS Nimitz to stay in Persian Gulf after Iranian threats against Trump

The Pentagon on Sunday evening order the USS Nimitz to remain in the Persian Gulf, reversing a planned redeployment, after Iran made threats against...