Tagged: Jho Low

1 MDB Corruption Scandal Ripples with Superseding Indictment of Jho Low and Former Rapper “Pras’ Michael for Back-Channel Attempt to Close 1MDB Prosecution

The scandal emanating from the 1 Malaysia Development Berhad fund (1MDB) continues to ripple through criminal law enforcement and criminal prosecutions.  Just to remind everyone, last year’s most significant FCPA enforcement case resulted in a $3 billion settlement with the Justice Department, the SEC and other agencies. Tim Leissner, the former Goldman Sachs Southeast Asia Chairman pleaded guilty to conspiracy to money laundering and FCPA...

Goldman Sachs’ Lucrative and Wide-Ranging Corrupt Scheme (Part II of III)

Goldman Sachs now sits atop all charts with the largest US FCPA bribery penalty, totaling approximately $2.9 billion.  The second largest is Ericsson’s 2019 FCPA settlement for $1 billion.  There is a reason that Goldman “earned” this distinction.  The bribery scheme and controls and compliance failures are repugnant and pervasive.  Goldman’s corruption scheme was built on stealing funds from the 1MDB account that was intended...

Goldman Sachs and the 1MDB Criminal Prosecutions

The 1Malaysia Development Berhad scandal (“1MDB scandal”) has been making headlines for the past few years.  The turning point for US prosecutors was the cooperation of Malaysian law enforcement and the corruption allegations surrounding Malaysia’s former prime minister Najib Razak.  At the center of this scandal is Goldman Sachs, which profited from $3 billion in bond issues on behalf of the 1MDB fund. The interesting...