Goldman Sachs paid for prostitutes, business travel and five-star hotels in an attempt to win business from the Libyan Investment Authority (LIA), the UK high court has been told. Mr Kabbaj also took him to Dubai for a conference, with the business class flights and five-star accommodation being paid by Goldman Sachs. Masefield told the court that one former Goldman executive – Youseff Kabbaj – had been told to “stay a lot in Tripoli. Goldman Sachs said it did not believe the internship influenced the LIA’s decision to enter into the trades. Roger Masefield, a QC for LIA, set out the background to nine trades that Goldman Sachs executed for the Libyan sovereign wealth fund between January and April 2008.

Source: The Guardian June 13, 2016 12:51 UTC