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Hong Kong fines Goldman Sachs record $350 mn over 1MDB scandal
short by Kiran Khatri / on Thursday, 22 October, 2020
Hong Kong's markets watchdog has fined Goldman Sachs' Asian business $350 million for its role in the 1Malaysia Development Berhad (1MDB) scandal. This is the largest fine ever imposed by the Securities and Futures Commission. "Serious lapses and deficiencies" in management controls at Goldman Sachs Asia had contributed to the misappropriation of $2.6 billion raised by 1MDB, the regulator said.
read more at Deccan Herald