Thursday, November 2, 2017

Singapore investigating Goldman for 1MDB related offences: ASIC's new boss James Shipton in the cross hairs

by Ganesh Sahathevan 

ASIC's new chair James Shipton
PHOTO: ASIC's new chair, James Shipton (Supplied: Harvard University)

The matter of James Shipton,the newly appointed ASIC chief has been reported on this blog in this story:

Australia appoints Goldman man who oversaw 1MDB deals head of corporate regulator ASIC: James Shipton looked the other way to allow Goldman to profit from the 1MDB theft

Now Shipton is going to have to contend with having his conduct investigated by the relevant authorities of the Government Of Singapore.

Report: Singapore police examine Goldman’s Role in 1MDB deals - BloombergPublished: Today 11:06 am Modified: Today 12:15 pm

Singaporean prosecutors and police are looking at Goldman Sachs Group's relationship with the scandal-hit Malaysian state investment fund 1MDB, Bloomberg
reported, citing people familiar with the matter.

Singapore's economic crime unit and city prosecutors have interviewed current and former Goldman Sachs executives who worked on bond offerings from 1MDB, Bloomberg reported.

1MDB, founded by Prime Minister Najib Abdul Razak, is facing money laundering probes in at least six countries including the United States, Switzerland and Singapore.

Najib has denied any wrongdoing.

A Goldman Sachs spokesman in Hong Kong declined to comment.

Officials at the Singaporean police and 1MDB were not immediately available for comment.

The Monetary Authority of Singapore (MAS) had earlier in the week barred two individuals involved in breaches related to the 1MDB fund from taking part in financial services management and advisory activities.

In March, the MAS issued a 10-year prohibition order against Tim Leissner, former Southeast Asia chairman at Goldman Sachs, who it said had made false statements on behalf of his bank without its knowledge or consent.

Leissner was responsible for managing the relationship with 1MDB when Goldman Sachs was engaged to arrange three bond issues from 2012 to 2013. MAS had flagged its intention to ban Leissner last December.



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