Lets take a look at the financial scandal that shocked the world.
The protagonist of the scandal is Yima company. Founded in 2009 by former Malaysian Prime Minister Najib Najib, the company initially declared to be Malaysias sovereign wealth fund, which will promote foreign direct investment and promote Malaysias long-term economic development. However, in recent years, Malaysia company has been caught in the mire of corruption and money laundering scandal, involving Najib and his relatives, a number of senior Malaysian officials and a number of Goldman Sachs executives.
According to the documents disclosed by the U.S. Department of justice, from 2009 to 2014, leaders and other associates of IMA were suspected of stealing $4.5 billion of assets of IMA and laundered money through the U.S. and global financial system.
Behind great wealth, there is evil.
The missing money, which should have been used to boost Malaysias economic development, has been channeled into the accounts of Najibs family members and cronies from many channels. These funds have been misappropriated to purchase various luxury real estate, art works, private aircraft, jewelry, subsidize film production companies, and even invested in shooting wolf of Wall Street starring little Li and other Hollywood TV Shadow.
Since 2015, the scandal has gradually surfaced due to the coverage by the Wall Street Journal and other media. Subsequently, the Malaysian Anti Corruption Commission launched an investigation.
Since 2016, the U.S. Department of justice began to intervene in the investigation, seeking to confiscate nearly $1.7 billion of assets, claiming that these assets were purchased by illegally misappropriating the funds of Yima company and suspected of money laundering.
In 2018, Najibs National Front was defeated in Malaysias general election. Mahathir, a 93 year old Malaysian Prime Minister for many years, became prime minister and began to thoroughly investigate the corruption case of a horse company.
Goldman Sachs is also deeply involved in the one horse case scandal.
It is reported that Goldman Sachs helped Yima company to issue three batches of bonds in 2012 and 2013, totaling $6.5 billion, from which Goldman earned nearly $600 million in service fees.
Many of Goldmans former and current executives are also involved in the lawsuit.
In November 2018, the U.S. Department of justice prosecuted Liu tezou, the core behind the scenes operator of the case, Tim lesner, former general manager of Goldman Sachs in Southeast Asia, and Huang Zonghua, general manager of fixed income department. In December, Malaysia also charged three branches of Goldman Sachs, Tim lesner and Huang Zonghua, as well as Lu aixuan and Liu tezor, former legal advisers of Yima company. Last August, Malaysias attorney general, Tommy toms, announced a lawsuit against 17 current and former Goldman executives.
Goldman Sachs has been defeated twice
After years of scandal, Goldman Sachs finally fell.
According to foreign media reports, people familiar with the matter said that Goldman Sachs has reached an agreement with the US Department of justice to pay more than $2 billion in fines for its role in the ima scandal, which is expected to be officially announced in a few days. People familiar with the deal said the deal would protect Goldman from criminal conviction in the United States. The deal is expected to be completed a few weeks before the U.S. presidential election, which will eliminate the dark cloud of scandal that has hung over Goldman Sachs for years, the report said. In fact, it is not the first time that Goldman Sachs has fallen. Three months ago, Goldman Sachs announced that it would pay at least $3.9 billion to the Malaysian government in connection with its corruption case, of which $2.5 billion would be paid directly to the Malaysian government, and promised that at least $1.4 billion would still be obtained from the assets seized by ima. The Malaysian government dropped criminal charges against Goldman Sachs in early September. Editor: Chen Yu extended reading: Zhao Benshan once spoke for the king of Huoxiang Zhengqi circle who lost 2 billion yuan in 10 years or will change ownership. Hong Kong media: Cathay Pacific Airlines will lay off 6000 people, cut off Cathay Pacific dragon eggshell apartment in troubled times: CEO Gao Jing is investigated, COO Gu Guodong leaves office. Source: Shanghai Securities Journal Editor in charge: Zhong Qiming_ NF5619
In fact, it is not the first time that Goldman Sachs has fallen.
Three months ago, Goldman Sachs announced that it would pay at least $3.9 billion to the Malaysian government in connection with its corruption case, of which $2.5 billion would be paid directly to the Malaysian government, and promised that at least $1.4 billion would still be obtained from the assets seized by ima. The Malaysian government dropped criminal charges against Goldman Sachs in early September.