NEW YORK: Goldman Sachs's decision to potentially cut bonuses for top executives over the 1MDB scandal reflects an acknowledgement at shareholder and public outrage over the debacle. Executives at Goldman Sachs headquarters face questions over the firm's work for scandal-ridden Malaysian fund 1MDB. 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. "The due diligence functions at Goldman Sachs fell apart," said Richard Bove, analyst at Odeon Capital and a frequent Goldman critic.

Source: Bangkok Post February 09, 2019 02:37 UTC