Hong Kong fines Goldman unit $350 million for its role in 1MDB scandal

The Securities and Futures Commission said the Goldman Sachs GS.N unit had made serious lapses and there were deficiencies in its management controls

Topics
Hong Kong | Goldman Sachs | 1MDB scandal

Reuters  |  HONG KONG 

Hong Kong's markets watchdog has fined (Asia) L.L.C. $350 million for its role in Malaysia's

The Securities and Futures Commission said the unit had made serious lapses and there were deficiencies in its management controls that contributed to the misappropriation of $2.6 billion from funds raised by 1Malaysia Development Berhad (1MDB) in three bond offerings in 2012 and 2013.

 

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First Published: Thu, October 22 2020. 15:12 IST
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