Beyond the bonuses, Goldman also said it could claw back compensation from current chief executive David Solomon and two other current senior executives, president John Waldron and chief financial officer Stephen Scherr. Experts say Goldman Sachs could face a fine of perhaps $2 billion under a criminal case related to 1MDB. Goldman garnered $600 million in fees and revenues from 1MDB bond transactions. Pointed questions facing Goldman Sachs include revelations it proceeded with its first transaction with 1MDB to finance a $1.75 billion purchase of power plants despite being warned by rival bank Lazard that the deal looked suspicious, according to a source. "The due diligence functions at Goldman Sachs fell apart," said Richard Bove, analyst at Odeon Capital and a frequent Goldman critic.

Source: The Nation Bangkok February 09, 2019 02:15 UTC