Goldman Sachs is implicated in history’s largest financial con – but will it be held accountable? | The Independent

Tim Leissner (right), the senior Goldman banker on the ground in Malaysia pleaded guilty in New York to financial crimes related to 1MDB last week

Even by Wall Street standards of gouging customers this was one hell of a skim.

In 2012 and 2013, the Malaysian government was raising $6.5bn (£5bn) from investors to establish a sovereign wealth fund and finance various domestic infrastructure investment projects. And the cut for Goldman Sachs – the most prestigious investment bank in the world – for arranging the fundraising from the global capital markets? Ten per cent, or $600m.

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via Goldman Sachs is implicated in history’s largest financial con – but will it be held accountable? | The Independent