Goldman Sachs CEO is "personally outraged" at criminal behavior in his bank
Goldman Sachs CEO David Solomon is shocked, shocked, by such disreputable behavior in his bank.
Here is his reaction.
“I am personally outraged that any employee of the firm would undertake the actions spelled out in the government’s pleadings,” the firm’s chief executive officer said in a voicemail left with employees on Wednesday. “The behavior of those individuals is reprehensible and inconsistent with the good work and integrity that defines work that 40,000 of you do every day.”
The bank’s stock has suffered since prosecutors implicated a trio of Goldman Sachs bankers in a multibillion-dollar Malaysian fraud early this month. On Monday -- when the country’s finance minister said he would seek a full refund of all the fees it paid for 1MDB deals -- Goldman’s shares tumbled the most in seven years.
Ah, yes. Goldman Sachs is famous for their "good work and integrity".
The US Department of Justice (DOJ) has said about $4.5 billion was misappropriated from 1MDB, including some money that Goldman Sachs helped raise, by high-level officials of the fund and their associates from 2009 through 2014.
US prosecutors filed criminal charges against 2 former Goldman Sachs bankers earlier this month. One of them, Tim Leissner, pleaded guilty to conspiracy to launder money and conspiracy to violate the Foreign Corrupt Practices Act.