Goldman's Solomon Says He Feels ‘Horrible’ About 1MDB Breaches
- Malaysian fund scandal has implicated at least three bankers
- U.S. firm is working with the authorities, Solomon says
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Goldman Sachs Group Inc. Chief Executive Officer David Solomon said he felt “horrible” about the role former bank employees played in the scandal surrounding Malaysia’s 1MDB fund.
At least three Goldman bankers were implicated by the U.S. Department of Justice in a multiyear criminal enterprise that included bribing officials in Malaysia and elsewhere and laundering hundreds of millions of dollars. In one of his first major headaches as CEO, Solomon will have to wrestle with the fallout from the firm’s growing entanglement in the high-profile corruption probe.