(Bloomberg) -- Goldman Sachs Group Inc. Chief Executive Officer David Solomon apologized to the Malaysian people for the role that a senior banker at the firm, Tim Leissner, played in the 1MDB scandal.

Malaysia was "defrauded by many individuals," Solomon said on a conference call with analysts after the investment bank reported fourth-quarter earnings Wednesday.

• Solomon reiterated that the firm conducted considerable due diligence on the deal and was lied to by Leissner, who pleaded guilty last year to charges including conspiring to launder money
• Solomon, appearing on his first earnings call since becoming CEO in October, said the firm is cooperating with the Department of Justice and the investigation is still open

Read more: 1MDB clouded final days of Solomon’s predecessor

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