Key takeaways: The banks’ joint statement reinforces confidence in the banking system and their cash infusion of $30 billion is a sign of their commitment…
Posts tagged as “Goldman Sachs”
Key takeaways: A group of America’s largest banks have agreed to deposit $30 billion into First Republic Bank. The move by the banks is a…
Roger Ng, a former Goldman Sachs banker, was sentenced to 10 years in prison on Thursday for his role in the embezzlement, laundering, and bribery of Malaysia's 1MDB sovereign wealth fund. The charges stem from $6.5 billion in bonds that Goldman Sachs helped 1MDB sell, of which $4.5 billion was embezzled and used to finance luxury items. Ng denied the charges, but the court's sentence stands as a reminder of the consequences of financial fraud and corruption.
Rep. George Santos (R-N.Y.) is under investigation for lying to a Seattle judge about working for Goldman Sachs during a 2017 court appearance. The investigation began when his Florida address was found inside a rental car used by a suspect in an ATM skimming investigation. During the hearing, Santos spoke in support of the suspect, claiming his parents had been sending money to ensure he had a place to stay if released on bail. Santos has not yet commented on the audio or the investigation.
Law enforcement officials in Brazil have announced that they will reinstate fraud charges against newly-elected US Representative George Santos, a Republican from New York. Santos…